The facility is extended to individuals who belong to an informal group in the same or different line of business.
Features:
- Competitive interest rate.
- Group members must be in the same location.
- 10% equity contribution.
- 3.5% monthly interest rate.
- Maximum tenor of Six (6) months.
- Group guarantee.
- Two credible guarantors. (cross guarantee of loan beneficiaries and an external guarantor each)