Aquaries Loans – Aquaries Coop

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Get Aquaries loan to boost your business or for personal use. That is why we adopt Ubuntu! I am, because we are

Cooperative Loan

Bridge finance to cater for rent payment, school fees, salary advance or to solve personal challenges or emergencies.

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Consumer Loan

Used to purchase durable goods, motor vehicles, home appliances, equipments under a sale and lease bank arrangement etc.

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SME Loan

Work capital requirement, invoice discounting, LPO financing, Asset leasing etc.

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Agribusiness Loan

Finance crop or livestock production, farm equipment leasing, LPO financing for contract farming, warehouse receipt financing etc

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credit line

SMEs are encouraged to better plan their cash flow needs on an annual or mid-term basis by opening lines of credit that makes loans accessible to meet their funding gaps or working capital needs as they fall due

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Share Loans

Purchase share in the Cooperative run by Aquaries MPCS

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more information on loans

Cooperative Loans

Purpose of loan: Bridge finance to cater for rent payment, school fees, salary advance or to solve personal challenges or emergencies.
Tenor of loan: 12 months max
Interest rate: 10% per annum
Credit Score rating: Tied to Member’s accumulated savings balance with Aquaries
Maximum Amount to Borrow – 200% of member’s accumulated savings
Collateral –Members’ savings + Guarantor(s) if loan amount > Members’ Savings balance
Management fees (i.e. processing & insurance) –2.5% charge on value of loan payable upfront.

Consumer Loans

Purpose of loan: Used to purchase durable goods, motor vehicles, home appliances, equipments under a sale and lease bank arrangement etc.
Tenor of loan: 24 months max
Interest rate: 17% per annum
Credit Score rating: Tied to Member’s accumulated savings balance with Aquaries
Maximum Amount to Borrow – 400% of member’s accumulated savings
Collateral –Members’ savings + Guarantor(s) if loan amount > Members’ Savings balance
Management fees (i.e. processing & insurance) –2.5% charge on value of loan payable upfront.

SME Loans

Purpose of loan: Work capital requirement, invoice discounting, LPO financing, Asset leasing etc.
Tenor of loan: 12 months max (with option of another 12 months rollover based on good credit history)
Interest rate: 20% per annum
Credit Score rating: Tied to Member’s accumulated savings balance with Aquaries
Maximum Amount to Borrow –500% of member’s accumulated savings
f) Collateral –Members’ savings + Provision of suitable fixed or movable assets worth 150% of loan value.
g) Management fees (i.e. processing & insurance) –2.5% charge on value of loan payable upfront.

Agribusiness Loans

Purpose of loan: Finance crop or livestock production, farm equipment leasing, LPO financing for contract farming, warehouse receipt financing etc
Tenor of loan: 12 months (with option of another 12 months rollover based on good credit history)
Interest rate: 20% per annum
Credit Score rating: Tied to Member’s accumulated savings balance with Aquaries
Maximum Amount to Borrow –500%of member’s accumulated savings
Collateral – Members’ savings + Provision of suitable fixed or movable assets worth 150% of loan value
Management fees (i.e. processing & insurance) –2.5% charge on value of loan payable upfront.

Credit Line Facility

Purpose of loan: credit line
Tenor of loan: 24 months max
Interest rate: 20% per annum on every loan requested.
Credit Score rating: Tied to Member’s accumulated savings balance with Aquaries
Maximum Amount to Borrow –500% of member’s accumulated savings
Collateral – Members’ savings + Provision of suitable fixed or movable assets worth 150% of loan value
Management fees (i.e. processing & insurance) –2.5% charge on value of loan payable upfront once.

Share Loans

Purpose of loan: Purchase share in the Coop
Tenor of loan: 18 months max
Interest rate: 5% per annum
Management fees (i.e. processing & insurance) –2.5% charge on value of loan payable upfront.