There is no South African lender trading as Acadia Finance. The business people are looking for is Arcadia Finance, at arcadiafinance.co.za, and the spelling without the r is a common slip.

The second thing to know matters more. Arcadia states on its own site that it is not a credit provider. It is an online loan comparison tool that passes your application to lenders, and it publishes no telephone number and no email address anywhere on its website.

Official contact channels

Because there is no published number, treat any phone number attributed to Arcadia Finance on a third-party listing with suspicion. If someone rings you claiming to be from a loan comparison service, they have your details because you submitted them somewhere, and you should verify who they actually are before discussing anything.

What this organisation provides

Its published representative example is worth reading before you apply: a loan of R30 000 over 36 months at a maximum annual rate of 28% works out at about R1 360 a month including the initiation fee and monthly service fees, with rates that may start as low as 11%.

Address and operating information

Read whose name is on the agreement before signing. The comparison site introduces you; the credit agreement, the interest rate and every obligation sit with the lender whose paperwork you sign, and that is the party you will deal with for the life of the loan.

Support and escalation routes

Submitting one comparison application can result in contact from several lenders and brokers. That is how the model works, but it also means your details are shared, so keep a note of when and where you applied. It is the only way to tell a legitimate follow-up from a cold approach later.

Sources