INSTITUTION / ORGANISATION ADVANCE
• Designed to help member companies, schools, business entities, churches and cSos among others to sort out urgent needs afflicting their operations.
• Institution must be an active member with 3 months’ shares.
• Evidence of express authority from top organ e.g AGM oR BoD Minutes.
• Security; guarantors, title deed, shares of the organization and any assets of the organization.
• Loan granted four times the net savings account of the ordinary savings account or net remittance for last 3 months.
• Maximum repayment period is 12 months.
• Interest rate is 5% p.m. reducing balance.
• Max. loan amount Kshs. 500,000.