Joint
Liability Group Lending Scheme
This
is a joint liability lending scheme where members
borrow as a group and hold themselves both jointly
and severally liable to the repayment of the credit
facility. The groups may include cooperative societies,
community interest groups, trade peer groups, church
groups, etc. The following group schemes currently
exist in Hasal Microfinance Bank Limited:
Dynamic Systems Cooperative Society
Giant Strides Cooperative Society
Lecsy Fadama Cooperative Society
Olere Multi-purpose cooperative society
NSCDC Multi-purpose cooperative society
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Loan
Categories and Requirements
-
Micro loans – these are loans ranging from
N50, 000 to a maximum of N500, 000.
- SME Loans – these are loans ranging from
N500, 000 to a maximum of N2, 000, 000
- Other loans – these are loans from N2, 000,
000 and above.
These categories can fall under any of the loan
scheme listed below:
-
Hasal L.P.O Support Scheme
- Hasal Asset Acquisition Scheme
- Hasal Working Capital Support Scheme
- Hasal Traders Express (HATREX)
- Joint Liability Group Lending scheme
Hasal
Micro Loans
Requirements
- An account holder that must have operated account
for at least a month
- Handwritten application letter
- Duly completed Loan Application Form
- Duly completed Personal Guarantee Form
- Duly completed Guarantorship Form
- One clear passport size photograph of the Guarantor
- Photocopy of the guarantor’s ID
- Applicant & Guarantor’s updated cheque
covering principal and interest amount.
Hasal
SME Loans
Requirements
- An account holder that must have operated account
for at least a month
- Collateral which should be a document of a landed
property, lien on stock covering the principal and
interest amount and other -uitable collateral
- Other requirements listed above
Hasal
Other Loans Category
Requirements
- An account holder that must have operated account
for at least a month
- Collateral, which should be a document of a landed
property and other suitable collateral
- Other requirements listed in the Micro Loan category
Joint
Liability Group Lending Scheme
Requirements
- Must be a registered co-operative society.
- Must have account with the bank that must have
been operated for at least one month
- Board Resolution from the coo-operative society
- Other requirements listed in the Micro Loan Category
Hasal
L.P.O Support Scheme
Requirements
- An account holder that must have operated account
for at least a month
- Presentation of Original Contract Award letter
- Irrevocable letter of domiciliation of contract
proceeds
- Handwritten application letter
- Duly completed Loan Application Form
- Duly completed Personal Guarantee Form
- Duly completed Guarantorship Form
- One clear passport size photograph of the Guarantor
- Photocopy of the guarantor’s ID
