Biashara Loan
Available to common bond members and outside the common bond.
Features
- Member must contribute shares for 6 months
- Income must be channeled through Fosa for 6 months
- Loan recovery will be through Fosa Standing Order
- Maximum amount applicable is Kshs 1,000,000 repayable in 24months
- Qualification shall be 2 times of members shares
- Waiting period is 1 month subject to availability of funds
- Not less than 5 guarantors subject to amount
- Self guarantee will be up to 80% of the members untied shares
- Collateral shall also be used as loan security
