Loan Refinancing

Loan Refinancing
The proceeds of the new loan shall be used to clear the existing one. Refinancing will only be granted on the following conditions;
Features
  • Member must have repaid 70% of the existing loan according to the loan agreement terms
  • The member must present detailed documents of an ongoing project or activity.
  • The loan will have to be guaranteed afresh.
  • Refinancing will be done only once at any given time and in any loan cycle.
How to Apply
  • Fill in loan application form, attach a copy of National ID or a valid passport
  • Return loan form for appraisal and approval
  • Loan processing fee:
  • Loan insurance fund (1% of approved loan)
  • Loan form 200/=
  • CRB report 100/=
  • Collect cheque payable to the loan applicant only.
  • Start paying loan promptly after a grace period of one month.
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