WHAT TO COSIDER WHILE APPLYING FOR A FACILITY IN A SACCO

WHAT TO COSIDER WHILE APPLYING FOR A FACILITY IN A SACCO

1.Security.
-Before you opt for a loan of your choice beware that the Sacco will need security for the loan your applying for.
-This may include; Tittle, guarantors, Nairobi open market share.

2.Repayment capability.
-When it comes to repayment make sure your pay slip or other sources of income can accommodate the repayment your opt for to a void default history.

3.Urgency of the loan.
-Before applying for any loan try to understand its policy and how best it could work for you.
eg Need emergency loan-could opt for loan processed within 24hours, 7 working days or within even 3 days.

4.A mount to be  applied.
-When considering the figures to apply, make sure your shares equalizes or much higher  enable you qualify for certain amount.
-Try find a facility that suites your savings and capacity in repayment.
eg opting for Aspire loan which is *3 of your savings.

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