Credit Guarantees

Description

This product will enable you (as well as your employees) to purchase on credit from stores and even SME businesses on the back of your shares and savings in the SACCOS. The SACCOS will issue a guarantee to the seller for the purchase so that you can purchase on credit. Should you default on the installments, the payments will be done from your savings as well as shares in the SACCOS.

Credit guarantees can also be used to get supplier credit facilities from businesses from which you are purchasing supplies.

Eligibility

Members and non-members are eligible for credit guarantees, subject to the limit of their shares and savings balances, any co-guarantees as well as the ability to repay. There is a minimum six-month waiting period before one can apply for a credit guarantee.

APPLY FOR LOAN

Click on the button below to apply for a loan. Note that only active members of the SMEAZ SACCOS can access the loan application page.