Basic Considerations when appraising loans

Members’ savings and share capital
Capacity to pay back
Business plan incase of Biashara loans
Building plans and stages of construction incase of Nyumba loan
Integrity of the prospective loan applicant
Membership, Qualification for a loan requires one to have saved with Wazalendo for six (6) months from the date of joining the SACCO and in addition, to have purchased at least ten (10) share
Bank Statement, Bank statement showing the last two months salary deposits is a must. This is to help determine the member’s capacity to repay the loan if granted.
Must have a minimum of 2 guarantors
Must present a passport photo