Jiendeleze Loan
Designed to help business people with established premises and over the counter sales to expand and boost their stock. I.e. given to individuals, businesses, sole proprietors & registered businesses.
FEATURES
Eligibility will be the lower of ;
50% of average of the last 6 months savings X 12 months in the Sacco
5 times the cash collateral.
Repayment frequency monthly
Requirements:
A completed loan application form
Active member for at least 6 months
Applicant must have a minimum share capital of Kshs 5,000
Applicant must make a minimum share deposits contribution of Kshs 500 every month
Savings and collateral building period of at least 6 months
Physical assessment report to ascertain profitability of business and evidence of an established profitable business/source of income. Bank statements for the last six months from the applicants’ current bank if any and Copy of latest final books of accounting and Referee/introducer
Certified copies of identification documents (I.D., Passport, PIN, Certificate of Incorporation, Memo & Articles of Association
Member will use household items/business assets as collateral and 2 guarantors who are active Sacco members.
CRB report from a registered bureau.
Applicant must not be more than 65yrs in age