Soko Loan

soko-loans

Benefits
  • This is to enable members to access quick loans for their businesses – e.g. buy stocks
  • 1 Months savings – subject to the requirements below
  • A member is allowed to pay for his shares in installments.
  • Loan to be processed within 48hrs
  • Shop can be used as security
Requirements
  1. First Time Borrower – maximum is Kes 300,000/- or 1.5 times the savings , whichever is higher .
  2. 1 month savings only –Subject to a minimum of saving 8 times per month
  3. Maximum Loan – is 3 times Savings
  4. Repayment period is 18 Months
  5. Copy of ID
  6. Copy of PIN
  7. 6 Months Bank Statement
  8. Security – can either be a Title/Shop/Log book/Savings /Guarantor