Instant loans
Instant Loans
Need cash to support your business operations? At SACCO, our members are able to get instant loans with an interest rate of 10%/month and use the capital to secure orders from suppliers, expand business operations or fulfill whatever needs your business has.
How It Works
- Become a SACCO member and pay the requisite joining fee ($30), admin fee ($2/month) and a minimum of 10 shares for $100 ($10/share).
- Fill in a loan application. You may need to purchase additional shares and pledge security as collateral.
- Once approved, pay the loan application fees listed below and sign the acknowledgement of debt forms.
- Make loan repayments in a timely manner or else you will be subject to a 10% penalty on outstanding interest. If you have difficulty paying, do communicate with us and we may be able to help you.
For more information contact Irene at +263772341934.
Fees
- Loan Application Fees (9% total)
- Cash Handling Fee: 2%
- Establishment Fee: 2%
- Loan Insurance: 5%
- Interest Rate: 10%/month
- Penalty Interest: 10% on outstanding interest
