Requirements
Each member is required to have:
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Valid ID (national ID, Passport or Driver’s Licence).
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TRN.
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Passport size photo. Photo can be taken in branch.
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Proof of Address such as Utility Bill or Registered Mail (not exceeding 3 months) in applicant’s name). A site visit is required in lieu of Utility Bill or Registered Mail.
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One (1) character Reference Letter
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Business must be operating for at least six (6) months.
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At least 50% of the group should be in a fixed location.
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No family member, spouse or persons living in the same household can form a group
Group Solidarity Loan
The Group Solidarity Loan is ideal for small business operators with little or no collateral to secure a loan. Group members are required to act as guarantors for each other. Loan amount range from J$30,000 to J$1,000,000 per group. Each individual group member cannot borrow in excess of $250,000.
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Group Solidarity Loan is available to micro business owners, operating in groups.
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Groups must consist of three (3) to six (6) individuals with group members acting as guarantor for each other.
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Loan amounts range from J$30,000 up to J$1M.
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Loan tenure range from three (3) months to four (4) years.
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Businesses must be operation for at least six (6) months.
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No collateral required.
Things you should know