Chapaa Papo
This is short term loan that targets members with more disposable income but have small savings.
Features
- Multiplier is four (4) times of member’s deposits
- Repayment period of 12 months.
- To be fully secured by guarantors deposit or collaterals
- Strict adherence to 2/3rd rule.
- Maximum loan to be determined by i-iv above
- New Members to qualify after six months of membership.
- Processing period is 6 hours
- Loan limit is Kshs. 300,000
Advantages to Members
- Loan to be processed and paid on the same day to the members’ FOSA account.
- Get higher loan of up to four (4) times of member’s deposits.