SOLIDARITY GROUP LOAN

FEATURES

• Loan amount between 2000 – 10,000 for the group
• Loan within 3 days
• Members between 5 to 15
• Interest rate of 6%
• Must save for at least two months
• Be an account holder
• Members must operate in the same vicinity
• Co-guarantor system
• Retention of 20% required
• 3 to 6 months loan tenor

 

 

 

 

REQUIREMENT

• Must have individual accounts/ group account
• Evidence of individual business
• National I D cards
• Constitution for the group
• Group guarantee