Tuinuane Loan is designed to meet Chama needs for undertaking of their projects together in viable group projects e.g. Asset finance and business loans.
- Repayment Period: Up to 60 Months
- Interest Rate: 1.2% per month on reducing balance
- Monthly contributions to cover loan repayment
- Security: Loan MUST be fully secured by a conventional collateral e.g. Title Deed, Guarantors, FD certificates or logbooks. .
- Chama deposits to be held in lien as additional collateral for the loan
- Chama registration certificate
- History of consistent monthly savings in the Chama Account used to determine ability
- Chama MUST have operated account for 6 Months
- MUST be an active member for the last 6 Months
- CRB history of Chama and its officials
- Recovery through Chama Account
- Direct payments allowed
- Demonstrated contribution schedule/working business plan