- Loan will be to cover annual expenses as vehicle insurance, house insurance, school fees, premiums for annuities and life insurance, land and building taxes and income tax, water rates, Medical check up.
- Loan will be for a maximum of 11 months.
- Member will be required to have 10% unencumbered New Shares per request.
- Loan will be subject to normal lending criteria.
- Member must present documentation to support expenses e.g. renewal notices from Insurance companies for vehicle and house insurance, statement from school for school fees, notice from Insurance company for annuities and life insurance.
- Proceeds of loan will be held on Members' account and disbursed to suppliers when payment becomes due.
- Loan is strictly for recurring annual expenses and NOT for emergencies that may occur during the year.
- Payments will be made directly to company or school.
