Business Loan

SACCO Members should own businesses. This Facility intends to encourage members to own business either as groups or as individuals.

Features :

  • Loan issued 5 times Chama savings.
  • Savings locked as collateral.
  • Repayable in 24 months
  • Interest @ 1.5% pm on reducing balance
  • Collaterals like title deed, log book accepted.
  • Available to individual, Chama, Corporate with FOSA Account
  • Proof of availability to repay
  • Administration fees apply where collateral is used.
  • Financing LPO’s, Bid Bonds and Business ventures
  • Limit: 50,000 to 3M
  • Terms and Conditions apply
  • Disbursed within an hour of application