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.

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.