NOTE: IF YOU ARE NOT IN GOOD STANDING, YOU CANNOT BORROW FROM THE ASSOCIATION. THEREFORE, MAKE SURE YOUR MEMBERSHIP, ADMIN FEE AND SINKING FUND IS UPTO DATE
INDIVIDUALS
- If you have only paid Admin, membership fee and Sinking fund, you can borrow a maximum of R5000 provided you have been a member of the association for a period of at least 3 months, you own a business or you are formally employed
- With R5000 Investment Fund, you can borrow upto R8000 without collateral
- with R10000 Investment Fund, you can borrow upto R15000 without collateral
- with R15000 Investment Fund, you can borrow upto R20000 without collateral
- with R20000 Investment Fund, you can borrow upto R30000 without collateral
Therefore, you would notice from the above that our maximum risk exposure for individuals is R10000
ASSOCIATIONS, STOKVEL & COMPANIES
- If the association or Stokvel or company has only paid Admin and membership fee, it can borrow a maximum of R10000 provided it has been a member of the association for a period of at least 3 months, it has at least 15 members and has been in existence for a period of at least 1 year
- With R5000 Investment Fund, you can borrow upto R15000 without collateral
- with R10000 Investment Fund, you can borrow upto R20000 without collateral
- with R15000 Investment Fund, you can borrow upto R25000 without collateral
- with R20000 Investment Fund, you can borrow upto R30000 without collateral
- with R25000 Investment Fund, you can borrow upto R35000 without collateral
- with R30000 Investment Fund, you can borrow upto R60000 without collateral
Therefore, you would notice from the above that our maximum risk exposure for associations, stokvel & companies is R30000
Note that these figures are not a gurantee for loan approval. If we have reason to believe that the loans would not be repaid due to dishonesty or cannot be repaid due to the member’s financial challenges, we would limit the amount we can approve downward
