Features and requirements of Group loans:

• Group must be registered with the relevant authority
• Membership of shall be between 10 to 50 members
• Minimum monthly savings of 2000/=
• Group shall provide minutes authorizing the procurement of loan facility which shall be stamped and certified by half the group members and the Oversight Ministry.
• Loans to be guaranteed by all the group members.
• Group must have saved for a minimum of six months.
• Groups will also qualify for asset finance.
• Interest rates of as low as 1.25% p.m. reducing balance
• Finance periods of up to 36 months with the duration being fixed at the beginning of the loan facility.
• The loan will attract a 1% processing fee plus an excise duty of 10% of the processing fee.
• All legal Fees/Costs shall be borne by the applicant.

N/B: for both these loan all other policies that in regards to Loans, Shares and savings are to remain constant.