Summary
"Credit that offers for rural and urban poors, especially for women who are already members of a financial groups conducting productive activities"
This group of woman consist of 4 - 8 members and each member is required to have a saving in BNCTL as mandatory.
Loan Amount
Maximum credit $2,000.00.Loan Term
24 weeks or 6 months.Interest Rate10% per annual and fixed rate.
Payment Plan
Weekly loan paymentBeneficiary
The loan is to fund the woman in rural areas that has business capacity and productivity.
Personal Criteria
- Demonstrate good personal character, honesty and accountable.
- Having business experience.
- Have a productive business.
- Always present in the woman group center (weekly)..
- Agree to have joint liability
Terms and Conditions
- Loan Amount
- Maximum $2,000.00.
- Loan Term
- Maximum 24 weeks or 6 months..
- Interest Rate
- 10% per annual (fixed rate).
- Penalty
-
Late payment interest 12% per annual (1% per month of total loan amount).
- Guarantee
- Any valuable asset or sufficient income.
- Payment plan
- Weekly loan payment plan.
- Other cost
- Administration fee and other costs tax are applicable under BNCTL regulations.
REQUIREMENT
- 1 copy of color passport size photo (3x4)
- Electoral copy for the applicant and spause (for married person)
- Copy of applicant’s Bank Account
- Meeting report before conducting mandatory training for members (applicable for new client)
- Test report for group (applicable for new client)
- Group establishment report
- Group member interview report
- List of available business assets
- List of assets to be procured or purchased with the credit
- Present additional guarantee
"common solution to complete family’s needs”
Brochure of Credit Click Here.