Group lending key features and benefits.
• The Sacco reaches out to customers in their places of work/businesses.• They can access loans typically for working capital, investment, asset finance and trade finance.• Credit appraisal of the group is done to determine the purpose and ability to repay.• Loan security – Group guarantees, savings, collateral e.g., title, MV logbook etc.• They can […]
Does share capital affects loan eligibility?
A member is required to have the minimum share capital at the time of applying for a loan.
Loan application eligibility
The general requirement is that one must have been a member of the Sacco for period of three months for individual members and 6 months for Corporate members. One must fulfill all requirements of a specific loan product.
