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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.