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Advance/Loan Type
Product Finance loan
Requirements
- The member shall be required to sign a formal agreement by way of instrument of charge, thereby giving the society first lien on the subject asset.
- A member shall not dispose of the product under an instrument of charge unless written consent granted by the society.
- Member must complete the loan application form.
- must have good credit rating with CRB.
- Repayable in 36 months
Asset Finance loan
Requirements
- The asset must be comprehensively insured and if movable property, be put on a tracking device at applicant cost.
- The asset must be presented in the office for physical inspection or at the approved Sacco agent.
- Anti-theft devices are to be installed.
- The member shall be required to sign a formal agreement by way of instrument of charge, thereby giving the society first lien on the subject asset.
- A member shall not dispose of the asset under an instrument of charge unless written consent granted by the society.
- Member must complete the loan application form.
- must have good credit rating with CRB.
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