Micro Credit Products
In line with the Sacco’s vision and mission, we have tailor made products to cater for the Micro sector
Solidarity Group
Biashara Loan
This product targets individual members in groups who meet the following criteria
- The groups are constituted by a minimum active membership of 10 and not more than 50 people.
- Registration fee of ksh.500/=
- Minimum share capital Kshs.10,000/=
- Avail ID copies, passport photos and KRA pin certificates.
- Every group must be registered with the relevant government authority.
- Have members who have regular income and are engaged in legal business activities and must know each other well.
- The group members must be willing to save for a period of twelve weeks.
- The groups to demonstrate the capacity and ability to mobilize savings among members and manage the same for the benefits of its members.
- The groups must have popularly elected group officials and signatories.
- The group should have an account with the SACCO and continuously contribute the agreed contributions.
- All the individuals shall be required to be members of Nyati Sacco Society ltd by holding minimum shares.
- Loan repayment will be on a daily/weekly/monthly basis.
- Members in a group must co-guarantee one another when applying for loans.
Collateral
- Chattels
- Savings
| Loan Cycle | Max Loan | Multiplier Factor | Max Term (Months) | Weekly savings |
|---|---|---|---|---|
| First Loan | 50,000.00 | 10 | 6 | 300 |
| Second Loan | 100,000.00 | 5 | 12 | 300 |
| Third and subsequent loans | 200,000.00 | 4 | 24 | 300 |
| Interest Rate | 1.25pm Flat Rate |
Solidarity Group
Biashara Loan Plus
This product targets individual members in groups who meet the following criteria
- The groups to be constituted by a minimum active membership of 10 and not more than 50 people.
- Registration fee of ksh.500/=
- Minimum share capital Kshs.10,000/=
- Avail ID copies, passport photos and KRA pin certificates.
- Every group must be registered with the relevant government authority.
- Have members who have regular income and are engaged in legal business activities and must know each other well.
- The group members must be willing to save for a period of twelve weeks.
- The groups to demonstrate the capacity and ability to mobilize savings among members and manage the same for the benefits of its members.
- The groups must have popularly elected group officials and signatories.
- The group should have an account with the SACCO and continuously contribute the agreed contributions.
- All the individuals shall be required to be members of Nyati Sacco Society ltd by holding minimum shares.
- Loan repayment will be on a daily/weekly/monthly basis.
- Members in a group must co-guarantee one another when applying for loans.
Collateral
- Chattels
- Movable assets
- Land
- Quoted stock
- Savings
| Loan Cycle | Max Loan | Multiplier Factor | Max Term (Months) | Weekly savings |
|---|---|---|---|---|
| First Loan | 100,000.00 | 8 | 12 | 500 |
| Second Loan | 200,000.00 | 5 | 24 | 500 |
| Third and subsequent loans | 400,000.00 | 4 | 24 | 500 |
| Interest Rate | 1.25pm Flat Rate |
Investment Group
Biashara Asset Finance/Investment Loan
This product targets individual members and Chama/Investment groups who meet the following criteria
- Must have a certificate of registration (for older groups, the certificate should be renewed)
- Constitution of the group.
- List of members (include; Names, id.nos, phone numbers, signatures)
- Group minutes resolving to join Nyati Sacco, signed by all group members.
- ID copies and passport photos of authorized signatories.
- Power of attorney
- Save for a minimum period of 3 months and access loans up to 3 times of their contributions.
- Registration fee Kshs.1000/=
- Minimum savings Ksh. 5000/= per month for investment groups.
- Minimum share capital Kshs.10,000/=
- Interest charged at 1.5% p.m. on reducing balance.
- Appraisal fee is charged at 1%
Collateral
- Movable assets
- Land
- Quoted Stock
- Savings
| Max Loan | Max Term (Months) | Monthly savings |
|---|---|---|
| 1,000,000.00 | 36 | 5,000.00 |
| 3,000,000.00 | 36 | 5,000.00 |
| 5,000,000.00 | 36 | 5,000.00 |
| 1.3pm Reducing | ||
| Multiplier Factor | 4 (four times) |
