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Group Loan for Women at First Microfinance Bank

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Group Loan (Women)

TYPE
FEATURE
Currency
AFA
Number of members
Between 3 and 6 members.
A minimum of 4 members for the first cycle.
Minimum Amount per member
10,000 AFA
Maximum Amount per member
20,000 AFA for the first loan
50,000 AFA Maximum
Maximum increase for loan
30% between first and second cycle
Renewal
After the second cycle: 50% between 2 cycles
Minimum duration
6 months for the first cycle
Maximum duration
12 months from the second and third cycles
Guarantee
Cross Guarantee
Installments
Monthly
Possible purpose / project
Working capital, stock (raw material, finished product), transportation expenses, even equipment, improvement of shop / workshop in case the self-financing capacity (net income + depreciations) is enough for the repayment of the loan


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