{"id":318,"date":"2025-09-19T12:58:00","date_gmt":"2025-09-19T09:58:00","guid":{"rendered":"https:\/\/mafunditv.co.ke\/sacco\/?page_id=318"},"modified":"2025-09-29T17:24:16","modified_gmt":"2025-09-29T14:24:16","slug":"qualification-for-a-loan","status":"publish","type":"page","link":"https:\/\/mafunditv.co.ke\/sacco\/get-a-loan\/qualification-for-a-loan\/","title":{"rendered":"Qualification for a Loan"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"318\" class=\"elementor elementor-318\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-2a78b01 elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"2a78b01\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a3d8c8f\" data-id=\"a3d8c8f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-86d9341 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"86d9341\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeIn&quot;,&quot;_animation_delay&quot;:100}\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Get a Loan<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-adbe7b1 elementor-widget elementor-widget-heading\" data-id=\"adbe7b1\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Qualification of a Loan<\/h1>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3876ca0d elementor-section-boxed elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"3876ca0d\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-60d653d7\" data-id=\"60d653d7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-53ffad0 elementor-widget elementor-widget-image\" data-id=\"53ffad0\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"533\" src=\"https:\/\/mafunditv.co.ke\/sacco\/wp-content\/uploads\/2025\/09\/ardhi-sacco-society-save-with-us-term-biashara-account-img-main-1024x682.jpg\" class=\"attachment-large size-large wp-image-208\" alt=\"\" srcset=\"https:\/\/mafunditv.co.ke\/sacco\/wp-content\/uploads\/2025\/09\/ardhi-sacco-society-save-with-us-term-biashara-account-img-main-1024x682.jpg 1024w, https:\/\/mafunditv.co.ke\/sacco\/wp-content\/uploads\/2025\/09\/ardhi-sacco-society-save-with-us-term-biashara-account-img-main-300x200.jpg 300w, https:\/\/mafunditv.co.ke\/sacco\/wp-content\/uploads\/2025\/09\/ardhi-sacco-society-save-with-us-term-biashara-account-img-main-768x512.jpg 768w, https:\/\/mafunditv.co.ke\/sacco\/wp-content\/uploads\/2025\/09\/elementor\/thumbs\/ardhi-sacco-society-save-with-us-term-biashara-account-img-main-rbz8hwuarxb86swu6m5yp38ouiivp0naymky52m4dc.jpg 600w, https:\/\/mafunditv.co.ke\/sacco\/wp-content\/uploads\/2025\/09\/ardhi-sacco-society-save-with-us-term-biashara-account-img-main.jpg 1280w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fdd2ac6 elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"fdd2ac6\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<ul><li>All loans shall be approved by the Credit and Risk Management Committee, and ratified by the Finance and Administration Committee, and shall be restricted to members.<\/li><li>The rate of interest on loans shall be fixed by the Board of Directors and communicated to the members.<\/li><li>All loans shall be applied for on forms provided by the Society for the purpose. The loan application shall be signed by the member and in each case, shall set forth the amount applied for, the purpose for which the loan is desired, the terms of repayment, the security, if any, and such other information as the Credit Committee may require. All applications for loans and the reports of the Credit Committee thereon, shall be filed as permanent record of the Society.<\/li><li>Loan applications shall be considered by the Credit Committee in the order in which application is made unless the loan is deemed to be an \u201cEmergency Loan\u201d.<\/li><li>The Credit Committee may require an applicant to appear before it personally to be interviewed in respect of his application for a loan.<\/li><li>The loan repayment form shall clearly state the amount of the loan, the rate of interest, the terms of repayment, and the security.<\/li><li>No loan shall be made to any member more than 5% of the Society&#8217;s total assets nor for a period is exceeding what contained in the loan policy.<\/li><li>Loans may be granted to Board members, employees of the Society provided:<ol><li>The loan complies with the By-laws and is not on terms more favorable than those extended to other borrowers,<\/li><li>The loan is approved by the Credit Committee, if any, and thereafter by the Board of Directors,<\/li><li>The applicant takes no part in the consideration of his application and does not attend the Credit or Board of Directors meeting at which his application is being considered.<\/li><\/ol><\/li><li>The Society employees, Board of Directors members, Supervisory Committee members, shall not be guarantors to members\u2019 loan applications to avoid conflict of interest in case of default on repayment.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-93947df elementor-section-full_width elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"93947df\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-bd65842\" data-id=\"bd65842\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ad75290 elementor-widget-mobile__width-inherit elementor-widget elementor-widget-text-editor\" data-id=\"ad75290\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<h2>Would want to start saving?<\/h2>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-956ffd0 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"956ffd0\" data-element_type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeIn&quot;,&quot;_animation_delay&quot;:100}\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Become a Member Today<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-8016a17 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"8016a17\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm elementor-animation-float\" href=\"https:\/\/mafunditv.co.ke\/sacco\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Apply Now<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-14dc05ae elementor-section-full_width elementor-section-height-default elementor-section-height-default wpr-particle-no wpr-jarallax-no wpr-parallax-no wpr-sticky-section-no\" data-id=\"14dc05ae\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-30730dd2\" data-id=\"30730dd2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-22e8f76c elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"22e8f76c\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Get a Loan Qualification of a Loan All loans shall be approved by the Credit and Risk Management Committee, and ratified by the Finance and Administration Committee, and shall be restricted to members. The rate of interest on loans shall be fixed by the Board of Directors and communicated to the members. All loans shall be applied for on forms provided by the Society for the purpose. The loan application shall be signed by the member and in each case, shall set forth the amount applied for, the purpose for which the loan is desired, the terms of repayment, the security, if any, and such other information as the Credit Committee may require. All applications for loans and the reports of the Credit Committee thereon, shall be filed as permanent record of the Society. Loan applications shall be considered by the Credit Committee in the order in which application is made unless the loan is deemed to be an \u201cEmergency Loan\u201d. The Credit Committee may require an applicant to appear before it personally to be interviewed in respect of his application for a loan. The loan repayment form shall clearly state the amount of the loan, the rate of interest, the terms of repayment, and the security. No loan shall be made to any member more than 5% of the Society&#8217;s total assets nor for a period is exceeding what contained in the loan policy. Loans may be granted to Board members, employees of the Society provided: The loan complies with the By-laws and is not on terms more favorable than those extended to other borrowers, The loan is approved by the Credit Committee, if any, and thereafter by the Board of Directors, The applicant takes no part in the consideration of his application and does not attend the Credit or Board of Directors meeting at which his application is being considered. The Society employees, Board of Directors members, Supervisory Committee members, shall not be guarantors to members\u2019 loan applications to avoid conflict of interest in case of default on repayment. Would want to start saving? Become a Member Today Apply Now<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":38,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_header_footer","meta":{"footnotes":""},"class_list":["post-318","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/mafunditv.co.ke\/sacco\/wp-json\/wp\/v2\/pages\/318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mafunditv.co.ke\/sacco\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/mafunditv.co.ke\/sacco\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/mafunditv.co.ke\/sacco\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mafunditv.co.ke\/sacco\/wp-json\/wp\/v2\/comments?post=318"}],"version-history":[{"count":133,"href":"https:\/\/mafunditv.co.ke\/sacco\/wp-json\/wp\/v2\/pages\/318\/revisions"}],"predecessor-version":[{"id":671,"href":"https:\/\/mafunditv.co.ke\/sacco\/wp-json\/wp\/v2\/pages\/318\/revisions\/671"}],"up":[{"embeddable":true,"href":"https:\/\/mafunditv.co.ke\/sacco\/wp-json\/wp\/v2\/pages\/38"}],"wp:attachment":[{"href":"https:\/\/mafunditv.co.ke\/sacco\/wp-json\/wp\/v2\/media?parent=318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}