Product Overview
- The Micro Group loan is a credit facility granted to a Group of members.
- The Loan is guaranteed by group members solidarity.
- A guarantee of 10% of the loan amount is required.
- Each group is made up of a minimum of 3 members.
Benefits of the Product
- Flexible repayment period (within ten (10) months)
- Completive interest rate
- members receive a lumpsum of money upfront, allowing them to pay back over fixed term
- stress free way of accessing credit (funds) to grow your business
- highly competitive interest rate
Requirements
- Members must exhibit a habit of regular savings.
- members must belong to a group
- the group must own shares
- members must save continuously for at least three months.
- Loan guarantee is by group solidarity.
- A guarantee of 10% of the loan amount is required.
- Each group is made up of a minimum of 3 members.
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