Requirement to get Loan
Requirements to get loan from the cooperative
- Should bring letter from her/his employer institution that specify monthly income of the member.
- Business operators should bring a renewed trade license and cash flow statement that indicates their monthly cash flow.
- Should bring the required guarantee for the loan
- should be willing to pay 1% life insurance fee
- should pay 1% service charge
- To get loan that amounts ETB 100,000 and above the member should pay its loan repayment for a minimum of one year without any interruption.
- bring marriage Certificate and the couples must be present in person. If one is not married he shall bring certificate notifying he/she is not married.
- fill the loan forms in person
Loan Warranty Types
- Saving waranty:-When the saving of the person getting the loan and another member giving his/her saving as a warranty.No extra waranty will be needed for this scheme.
- Title deeds and libre.
- All loan repayment will be repaid every month based on monthly installments schedule.
- For loan amount up to 50,000 ETB a letter from your employer detailing salary could be used
for detail information click this Loan link.