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With the intent of bridging the gap between the different social-economic classes of individuals in the society, Balance Up Microfinance CO.OP. was born. Founded 28th, May 2020 envisioning to empower people with small and medium enterprises with the knowledge and tools to improve their lives.
The goal of Balance Up microfinance cooperative is to enhance easily accessible, cost effective and sustainable financial services to the people living within our jurisdiction.
That would in turn enable increased investment in income generating activities resulting in an increase of their income levels.
You will be required to pay a default fee of 500 the following day.
This will be dependent on your accrued savings. 5% interest is given when your savings accumulates to 50,000 and above.
Regular savings. This is saved for a minimum of 6 months.
The loan disbursed is within the range of 50,000 to 200,000 depending on the type of business.
No, close family relatives are not to be used as guarantors.
For individual loan – an existing business, a passport photograph, photocopy of any valid ID card, two guarantors; their passport photographs and valid ID card. For group loans – a passport photograph, photocopy of any valid ID card, 1 guarantor with a passport photograph and a valid ID card.
500,000 for a minimum of 6 months.