NEEDS MICROFINANCE LTD
1st Floor Gina Villa, Adjacent Achimota Golf Club, Legon West Road
P.O.Box KIA 16192, Accra.

Tel:+233-30-297 5566
M:+233-28-954-8421
GROUP LOANS

Needs Group Loan is designed to give loans to group of five to fifteen adults. Specifically, for persons or entities, who individually could not have accessed an amount equivalent to Needs minimum business loan can form a genuine, reliable group of five to fifteen people and apply for a loan which would be divided among them according to their financial needs and their ability to repay the loan.

Target - Any regular income earner / business owner
Group - Preferable must be a member of a market group or an association
Loan - For trade business (working capital) or acquiring business assets (fixed asset)
Security - 30% cash collateral
Interest rate - Interest is very affordable and extremely competitive

SPECIFIC ELIGIBILITY CRITERIA:
- Clients must be engaged in income generating activities that are legal.
- Must save with the bank for at least 2 months.
- Members shall be jointly and severally liable to the facility they enjoy.
- Group members must be in the age bracket of 18 to 60 years.
- Group must be located within the bank’s catchment’s area.

NON-ELIGIBLE GROUP (Personal Loan)
- A member in a defaulting group
- Couples and close relations
- Salary workers

REQUIREMENTS
- Any Valid National ID card (Voter ID, Passport, Driving license, National ID, etc.)
- Proof of Business (AMA tax receipt, business registration documents, etc.)