Loans

This is a micro-credit facility designed for salary earners, small and medium scale business owners who desire to borrow for business or other needs because it's part of our mission to Create Funds to be lent to our members for various purposes.

Personal Loan - 8% flat interest rate monthly (1 - 3 months with an option of renewal)

Business Loan - 8% flat interest rate monthly (1 - 6 months with an option of renewal)

Requirements:

  1. Duly completed Loan Application Form
  2. 2 x Recent passport photograph
  3. Identification card
  4. Proof of address (Utility bill)
  5. Evidence of income
  6. Details of work place
  7. 2 guarantors required
  8. No Collateral required
  9. Loan request from N10,000 – N100,000

Requirements:

  1. Duly completed Loan Application Form
  2. 2 x Recent passport photograph
  3. Identification Card
  4. Proof of Address (Utility bill)
  5. Evidence of Existing Business
  6. Evidence of Last shop rent payment receipt
  7. 2 guarantors required
  8. No Collateral required
  9. Loan request from N50,000 – N200,000

Requirements:

  1. Members who have operated and maintained an active fixed savings account with us for at least 2 months.
  2. Members who can provide guarantors within the Cooperatives, or non-cooperative members on N3,100 registration each.

Requirements:

  1. We are here solely for our members and aim to provide affordable credit to anyone who can afford to pay the loan repayments.
  2. Each loan application is assessed individually by a member of our team. We cannot lend to everyone - each loan is assessed on its own merits.
  3. We take all information into account when making decisions.
  4. Our loans are a way of building a healthier credit history.
  5. We always aims to explain the true cost of borrowing and always encourages members to place money into savings at the same time as borrowing.