- Done after 6 weeks of savings and training
- Group members to co guarantee each other
- Borrow 3 or 5 times of their savings depending on the category of the group
- Group to have a select Credit Committee to work with Kwetu Sacco officer
- Group to go through loan preparation training Before any loan disbursements
- Topics to be covered eg Group lending policy,Terms and conditions of the loan,Repaymentmode,maintainance of group records,co- gurantee concept and its implications,Enterpreneurial qualities.
- Must have borrowed and fully repaid at least two micro loans
- Site visit to verify business location
- Client MUST provide pin certificate and utility bill
- Business permit is a must
- Maximum Repayment period 48 months
- Targets women who are self employed and carry their business from a fixed premises
Requirements
- MUST open a transactional Account and operate it at least for one month
- MUST be in business
- MUST be a member in kwetusacco
- Can be accessed by women groups
- Kentanks
- Meko Gas
- Solar Products
- Bodaboda
- Repayment is by way of monthly Installments comprising the capital value plus interest charges over an agreed finance term.
- Ownership of the asset automatically passes on to member upon the last repayment
- No monthly charges
- Interest rates on amounts not withdrawn for above three months
- Over the counter withdraw kes. 120/-
- Mobile banking services
- Maintains minimum operating balance
We finance Assets for Chamas, churches, SHG and Funeral Welfares. Example:
- Tents and plastic chairs
- Meko Gas
- Solar Products
- Boda Boda
- Cars
- Tanks and etc
- A member must have operated a Biashara account 3-6 months
- Loan is 3 times their savings
- Business assessment done by a Relationship Officer
- Provide business photos and business permit
- Sketch maps for residential and business area
- Minimum account opening balance of 2000
- Access to mobile banking services
- No monthly charges
- Can operate to zero balance
- Over the counter withdraw Kes. 120/-
- Cheque book on request
- Loan form charges kes. 100/-
- A member must have operated account from 1- 3 months
- Statements from other credit institutions
- Must have a running registered Business
- 5 times their shares
- Business assessment done by Relationship officer
- Provide business photos and business permit
- Sketch maps for residential and business area
REQUIREMENTS
- Copy of ID Certified by our officer
- Copy of KRA pin certified by our officer
- latest colored passport