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- KWASU Group Lending
KWASU Group Lending
- The obligor member must either live or operate their trade within the same proximity of all their group members.
- The loan limit is N300, 000.00 each member
- Loan term is180 days
- Processing fee- 2.5% flat
- Management fee- 2.5% flat
- Interest Rate: 3% -4.5% monthly on reducing balance – As the case may be.
- Repayment shall be in equal weekly or monthly installments from sales proceeds.
- Joint Group Guarantee and combined goods and assets of the group members.
- One additional guarantor outside the group
- 5% Cash Collateral Deposit
- Association commitment where applicable.
- Affidavit of stock hypothecation to KWASU MFB Ltd.