Group Loans
This group loan is designed to help facilitate the growth of SME’s, entrepreneurs and businesses. This group loan comes without any collateral. The incentive to repay this loan is based on peer pressure, if one group member defaults, the other group members make up for the repayment amount.
WHY CHOOSE TALENT
- Flexible loan
- Competitive interest rate
- Less cumbersome procedure
FEATURES
- Available to traders with same or similar business
- Repayment period (up to 10 months)
- 20% cash lien
- Interest rate of 3% per month
- Interest rate of 3% per month
REQUIREMENT
- The group should consist of not more than TEN (10) members engaged in same or similar activities (Minimum of 5 members)
- Letter of consent from church leadership
- The loan amount can increase over a period of time, provided that the group members repays their loans successfully/fully
