This is a group-based models, where several entrepreneurs come together to apply for loans and other services as a group.
This product attributable to its ability to deliver credit to households that lack collateral while achieving near-zero default rates
This product shall available to registered groups.
This product will grow both the Sacco's member base and Sacco's loan portfolio; the product involves training of the groups in the mode of savings and loans issuance amongst the group.
Groups shall be required to meet on weekly basis or on monthly basis and during the meeting the members shall contribute their savings and repay their loans.
This product shall involve filling of passbooks and weekly updates of the groups record books.
Tujijenge loan Requirements
a. A registered group (Registration Certificate)
b. Registration fee of kshs 2,000
c. Shall provide their by laws and minutes with the agenda of opening accounts with the sacco
d. Minimum of 8 Members
e. Shall contribute share capital of – kshs 1,000 per individual
f. Deposits after 3 Months
Shall at a multiplier of X5
g. Interest – 1.5% Reducing Balance per month & 18% per annum
h. Minimum group savings – kshs 2,000 p.m
i. Minimum individual savings – kshs 1,000 p.m
j. Security – Guarantors & (Household good)
k. Group to be meeting on weekly basis
Maximum of Kshs 100,000.00
Kikundi loan (Investment)
a. This loan shall be granted to an organized and registered group.
b. Minimum membership of 8 members.
c. The loan shall be granted up to 5 times of the group’s deposits.
d. The loan shall be repaid for a period of up to 48 months.