Summary
"Credit that offers for rural and urban poor, especially for women who are already members of a financial group 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
Maximum 12 months / per yearInterest Rate7.50% per annual (fixed rate)
Payment Plan
Weekly paymentBeneficiary
The loan is to fund woman in rural areas that has business capacity and productivity.
Personal Criteria
- Demonstrate good personal character, honesty, and accountability.
- Having business experience.
- Have a productive business.
- Always present in the woman's group center (weekly).
- Agree to have joint liability.
Terms and Conditions
- Loan Amount
- Maximum $2,000.00.
- Loan Term
- Maximum 12 months / per year
- Interest Rate
- 7.50% per annual (fixed rate).
- Penalty
-
Late payment interest is 12% per annual (1% per month of the total loan amount).
- Guarantee
- Any valuable asset or sufficient income payment
- Payment plan
- Weekly loan payment plan
- Other cost
- Administration fees and other costs tax are applicable under BNCTL regulations.
REQUIREMENT
- 1 copy of a color passport-size photo (3x4)
- Electoral copy for the applicant and spouse (for married person)
- Copy of applicant’s Bank Account
- Meeting report before conducting mandatory training for members (applicable for new clients)
- Test report for the group (applicable for a 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.