Is your group/ club trying to finance a project whether it is to purchase land, development of property or other viable investment?
The Co-op Club Special Loan is designed to help chamas reach new heights. Get a maximum loan amount of up to 50 million or five times the group’s savings with a repayment period of up to 72 months.
FEATURES OF CLUB SPECIAL LOAN
Maximum loan amount of up to 50 million or 5 times the group’s savings
Repayment period of up to 72 months
100% financing of the project cost
Affordable interest rate
The loan is accessible to groups as a corporate body.
The group must be registered with the concerned registering body e.g. ministry of social services, ministry of gender etc.
Group account operational for 6 months with Co-operative bank or with other banking institutions
Open Mshiriki current account and an investment company account with the Co-operative bank
Group must be making monthly contributions through the Mshiriki account.
The securities acceptable to the Bank under this loan product include:-
Shares quoted in the Nairobi Securities Exchange.
Chattels Mortgages on Motor Vehicles, Machinery, etc.
Guarantees supported by Tangible Securities.
Approved Overseas Guarantees
Treasury Bills & Treasury Bonds
Approved Endowment Insurance Policies.