Group lending – a form of lending, which does not require collateral, for those segments of entrepreneurs who are in need of financing, but are unable to provide liquid collateral. The structure of a group loan is comprised of members, which guarantee the other members, and for which solidarity principles are applied.
Small Group Loan
- ‘There’s strength in teamwork’
- A short term or medium term credit facility that can be accessed through a group with a minimum of 5 and maximum of 10 active entrepreneurs owning individual businesses.
Why you should apply for this loan
- Facilitates business performance and growth.
- Flexible repayment period.
- No need for a trading license.
- No collateral requirements.
- Can be accessed for a number of cycles as long as the client repays well.
- Loan amounts to individuals in the group ranging from U$50 – U$3,000
Qualifications for this loan
- Applicant must be 18 years and above.
- Credit Reference Bureau (CRB) registration.
- Group solidarity.
- At least 6 months of business existence and activity.