This is a loan product specifically targeting the business community.
Terms and Conditions
- The loan applicant must have an ongoing, registered business and is an active member of the Sacco in terms of carrying out daily transactions
- The loan applicant must have shareholding worth, at least, Ksh. 10,000 (ten thousand shillings only )
- The loan applicant must maintain non-withdrawable deposits of 15% of the approved loan amount.(contributed upfront)
- The loan applicant and guarantors must offer chattels as security.
- The maximum repayment period shall not exceed 24.
- The loanee expressly authorises the lender (Wakenya Pamoja Sacco Society Ltd) to access his savings deposits as disclosed in the irrevocable Authority Clause in liquidation of the loan
- The loan applicant must surrender original ownership documents to the lender for the chattels offered as securities in respect of the loan
- The lender shall surrender back original ownership document/s deposited by the loanee as security for a loan once the loan is fully liquidated.
- The loan applicant shall provide three guarantors.