1. Transaction cost such as mpesa, bank transfer charges shall be deducted at disbursement.
2. The applicant consents that if the organization has to involve lawyer, auctioneers, and debt
collectors due to default in instalments payment, the applicant will meet such costs.
3. Where Direct Debit/Postdated cheque is dishonored, the actual charges or Kes 1,000(whichever
is higher) shall be recovered from the applicant.
4. Loan origination cost such at Admin fee Kes 2,000 and Insurance premium 0.1% of the loan
amount is deducted at disbursement
5. Loan instalments shall be received on the due dates as per agreement plan. That the
installments shall be paid via either/or by Mobile money, Postdated cheques or Direct debits.
Our field officers are not authorized to receive repayments on behalf of the organization.
6. You authorize the organization to access any information available to assess your investment
request and subject your information to our robust credit scoring engine to ascertain credit
worthiness.
7. Further, you’ve read and understood this terms and conditions and shall abide by them.
APPLICANT DECLARATION;
Hereby acknowledge to have read the terms and conditions and repayment schedule at an instalment of
Kes……………………………..Per month over a period of……………………………………..Months at an interest rate
of……………………………..% PM
APPLICANT
RIGHT HAND THUMB PRINT
NAMES:…………………………………………………………………………
SIGNATURE:…………………………………………………………………….
Loan guarantee
We, the undersigned acting as guarantors for the investment requested by this form agree jointly to
guarantee its repayment. In case of default in repayment by the applicant, the organization is
authorize to recover the investment and any arise costs as a result of default from the security hereby
pledged.
Complete this part in block capital: Guarantor name should be written in full
COMMUNICATION TO DEFAULTERS
In case of default communication to the applicant and guarantor will be as below;
1. First month notification will be done to applicant via email and phone call/SMS
2. Second month notification will be done to applicant and guarantors
3. Third month notification will be done to applicant, guarantors and regional coordinator