Bridging the gap between banks
and payday lenders

Why we exist

In Papua New Guinea, borrowing a small amount before payday usually means one of two things: a finance institution that wants paperwork and months of salary deductions, or a street lender charging around 50% for 14 days. INSTABUXX lends at 10% to employees of registered companies, and 20% to everyone else, in National Capital District (NCD).

We built something in between. Apply online with as little effort as sending a text message, see the cost before you commit, and repay in one payment on payday — a single fixed charge for one pay cycle rather than months of deductions.

What we do

• We lend our own funds to verified employees — K100 to K1,000 for up to 14 days at 10% fixed interest if the employer is registered with INSTABUXX, repaid on payday through its payroll. That payroll agreement is what lets us offer such a low rate. Other employees pay 20% and repay us directly.
• We run the platform for private lenders, free of charge, so anyone already lending to colleagues and family can do it with signed agreements and automatic interest tracking.
• We keep the records: every application, agreement, payment and balance, available to both sides as a PDF.

How we assess people

Every borrower uploads a personal ID, a work ID, their latest payslip and a bank statement showing that pay. We set the borrowing limit at 60% of take-home pay, and the total repayable has to fit inside it. It is a deliberate ceiling — we would rather lend less than push someone into default.

Being straight about risk

Our rates are higher than a bank's because the loans are small and short. Missing the due date is expensive: another 10% (20% if the employer is not registered) of the original amount is added for every fortnight a loan stays unpaid, and we do pursue recovery under the terms borrowers sign. We publish all of this before anyone applies because a borrower who understands the cost is a borrower who repays.

Data and privacy

Payslips, IDs and bank statements are only ever visible to the member who uploaded them, our administrator, and a lender funding that member's loan. We participate in the Dinau Control Center (DCC) and may share default information — the DCC data policy sets out exactly when and how.