Group Loans at MbararaMbarara Kafunjo Farmers SACCO Limited
Group Loans from Mbarara Kafunjo Farmers SACCO Limited are designed to empower groups of individuals who can support each other financially. These loans foster community development and enhance mutual accountability, making it easier for members to access larger sums than they might qualify for individually.
Here’s how we can help:
Purpose: These loans are ideal for groups looking to undertake community projects, start joint ventures, or expand collective business activities.
Benefits: Lower interest rates compared to individual loans, larger loan amounts, and the shared responsibility which decreases individual risk.
Group Formation: Members form a group with trusted peers who share similar financial goals or business interests.
Joint Responsibility: Each member of the group acts as a co-guarantor for others, creating a network of mutual financial support.
Loan Training: Groups receive training on financial management and loan repayment before the loan is disbursed, ensuring all members are well-prepared and committed.
How to Apply for a Group Loan
- Group Registration: Register your group with Mbarara Kafunjo Farmers SACCO. All group members must be SACCO members in good standing.
- Application Submission: Submit a detailed loan application outlining the purpose of the loan and the repayment plan agreed upon by the group.
- Credit Assessment: Our loan officers assess the group’s creditworthiness, including reviewing past financial behaviors and current financial health.
- Loan Approval and Disbursement: Once approved, the loan is disbursed to the group’s collective account, to be managed as per the group’s rules and agreements.
join us today
We offer a range of financial services to help you grow your business and achieve your goals. From loans to savings and educational programs, we’re here to support every step of your journey. Become a member and start building your future with us
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Mbarara Kafunjo Farmers SACCO Limited promotes financial growth and community empowerment in Mbarara through tailored loans, savings, and educational programs for our members.
- Mbarara
- info@mkfsug.com
- +256 0200907748