Pamoja USD Loan

1. Membership and Eligibility:
   • Must be a Sacco member with consistent contributions for a minimum of 6 months.
   • Eligible for a loan up to twice the amount of deposits in the Pamoja USD Savings Account.
2. Interest Rate & Repayment Period:
   • Interest rate ranges from 8 % to 11.5% per month on a reducing balance, depending on the loan tenure.
   • Maximum repayment period is 60 months

1. Loan Security:
   • Member’s own deposits in the USD savings accounts.
   • Any other collateral as prescribed in the credit policy.
2. Loan Flexibility:
   • A member can have this product in addition to any other loan product with the Sacco.
3. Requirements:

For Employed Members:

1. • 3 latest paystubs.
   • Bank statements for the latest 3 months.
   • Copy of Kenya ID or valid Kenyan Passport.
   • Copy of the latest W2 Form issued by the employer.

For Self-employed or Contract Members:

1. • Bank statements for the latest 12 months.
   • Copy of Kenyan ID or valid Kenyan Passport.
   • Business registration certificate.
   • IRS Business Tax Returns for the latest filing year.
   • 1099 Forms and/or any other supporting documents.