As some potential borrowers who have been recognized as Gold members of KGMAMF and have the capacity /ability to invest more than existing ceiling would be selected for Micro Enterprise loan. KGMAMF would like to introduce Micro Enterprise Loan for immediate upgrade members.
Some of the key features of this loan are discussed in the list below:
- This loan is not for all. Only those who have already completed at least one/two loan cycle with KGMAMF and have very good business and need running capital, they will be eligible for this loan
- Only the 100% loan installments payee members are eligible for this loan
- Project office will have fixed the number of borrowers in each branch
- The Branch will preliminary select the Gold members and project office will physically verify it and if it seems potential then the CEO /Accountant of KGMAMF will recognize the gold members
- Separate loan ceiling will be fixed with the consultation of the borrowers
- The duration of Micro enterprise loan will be from 1 to 3 years
- The rate of interest of micro enterprise loan would be fixed at 20% decline per annum
Features | Details |
Purpose | Those who have already completed at least one/two loan cycles with KGMAMF and have a very good business and need running capital |
Credit/ Loan Terms | Term of basic Loan is 1, 2 and 3 years |
Repayment | Bi-weekly with interest and as per as the requirement |
Capacity of Loan /Size of Loan | Previous experience of work on the proposed business (if available) |
Interest Rate | 20% decline per annum |
Effective Interest | 22.04 % |