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Rapid Group Loan
This loan scheme offers financial support to small groups of microentrepreneurs or borrowers who are engaged in income-generating activities. This loan applies to clubs, societies, and groups of church members, traders, artisans, and other service providers within our catchment areas.
Loan Information
Features & Benefits:
Requirements:
Features & Benefits:
- Applies to members whose daily contribution is GH¢10 and above.
- Group size ranges from 5 to 10 members
- Loan amount ranges between GH¢1,000 and GH¢5,000
- Loan tenor is 4 months.
- Interest rate is 5% per month.
- No collateral required.
- Repayment is weekly.
Requirements:
- Group members must open a savings account.
- Members must make weekly savings for at least 8 weeks
- Members must provide group guarantee and savings lien of 25% of loan size.