Your Federal Quarterly Tax Payments are due April 15th Get Help Now >>

KMA SACCO MEMBERS LOAN APPLICATION FORM by bgh20549

VIEWS: 105 PAGES: 3

									REGISTERED OFFICE                                                                                Tel: 2738087
K.M.A. HOUSE CHYULU RD.                                                                               2714991
P.O.BOX 413 – 00202,                                                                             Fax: 2738095
NAIROBI



                                             CO-
KENYA MEDICAL ASSOCIATION SAVINGS AND CREDIT CO-OPERATIVE SOCIETY
                           KMA SACCO

                                MEMBERS LOAN APPLICATION FORM

APPLICANT MUST MEET THE FOLLOWING REQUIREMENTS BEFORE COMPLETING THE LOAN FORM

1.  The applicant must complete the loan form in full and any incomplete form will be returned unconsidered.
2.  Members must have been contributors for a minimum period of six Months and be current members of KMA
3.  No member will be allowed to suffer total deductions, including loan repayments in excess of two thirds of their
    basic salary. (Applies to those in salaried employment).
4. Guarantors must be members of KMA SACCO who have unguaranteed money to avail.
5. The Applicants are required to attach two latest original pay slips (applies to those in salaried employment).
6. The total loan granted shall not exceed three times a members share and be repayable within a period not
    exceeding Five years
7. The guarantors must be ready to assist the society to ensure that the borrowers repay all the money given to
    him/her within specific period and are liable for monies outstanding in the event of failure by a member to
    repay loans advanced.
8. Second loans for emergency will only be granted within a maximum repayment period of 12 months. For school
    fees loans, the repayment period will be within the calendar year. All loans in this category shall be supported
    by documentary evidence.
9. The total guarantor’s share together with that of the applicants must be equal or more than the lion applied for.
10. Members taking loan shall be required to increase their share contributions by 1% of the outstanding amount of
    the loan for the repayment period.
11. Members taking loan shall be required to pay insurance premiums for the monies lent. A minimal
    administrative charge shall be levied to the facilitate this.




1. Name:____________________________________________________________________________
                Surname         First name          Given Name or Initial

2. KMA SACCO Membership Number_______________________________________

3. Place of Practice/Employment __________________________________________
                                __________________________________________
                                __________________________________________

4. Correspondence Address:              __________________________________________
                                        __________________________________________
                                        __________________________________________

5. Telephone Contacts                   Landline:__________________________________
                                        Mobile Line:_______________________________

6. Position in KMA SACCO:___________________________________________________________
7. Amount of Loan Applied for : Kshs____________________________________________________
                                        (In figures)
   _________________________________________________________________________________
   _________________________________________________________________________________
KMA SACCO Limited                                                        Member’s Loan Application Form           1
Save Regularly, Borrow wisely, Repay Propmtly
         ( In words)

8. Repayment proposal:_____________Months at Kshs.____________________Monthly
                                                                                           (Excluding interest)

9. Proposed mode of repayment:___________________________________________________
                                                                      (Standing Order, Direct Bank Deposit1)


10. Purpose of Loan:_____________________________________________________________
                                                                     (Development, Emergency, School Fees)


11. Indicate the loan you have guaranteed in the last 36 months


     Names                             KMA SACCO Membership                       Amount of Shares
                                       Number                                     guaranteed
1.
2.
3.

12. Do you have any outstanding loan_____________________(Yes/No)
    Provide details (type of Loan, amount, date taken – month, year) ________________________
    ____________________________________________________________________________

13. Guarantee
     (To be completed by guarantors who are members of KMA SACCO. Please read the following statement carefully.)

     In consideration of guaranteeing the above or any lesser amount that may be approved, we the
     undersigned herewith accept jointly and severally the liablility for repayment in the borrowers
     default. We understand that the amount in default may be recovered an offset against our shares in
     KMA SACCO or by attachment of property or salary and that we shall not be eligible for loans unless
     the amount in default has been cleared in full.

     Guarantors Details

      Names                     KMA SACCO                ID/Passport        Amount of   Signature
                                Membership               Number             Shares
                                Number                                      guaranteed2
1.
2.
3.
4.
5.




1
  Cash payments will no longer be received at the SACCO Office. Direct deposits may be made into SACCO’s
account details of which you will be supplied with upon receipt of your loan cheque.
2
  The amount of shares available to be guaranteed are those that are not yet committed to any other loan either for
the guarantor or any other person that they have guaranteed
KMA SACCO Limited                                                         Member’s Loan Application Form              2
Save Regularly, Borrow wisely, Repay Propmtly
I hereby declare that the foregoing particulars are true to the best of my knowledge and belief. I
agree to abide by the By-Laws of the society, the loaning policy and any variations by the
committee in respect of 7 and 8 above.

I further declare that I have understood the instructions on the first page of the applications form.

Signature of the applicant____________________________________

Date____/____/____                           I/D________________________

FOR OFFICIAL USE ONLY

     Names                    Guarantors             Amount of            Amount of          Signature
                              Shares                 Shares               Shares
                                                     available3           Guaranteed
1.
2.
3.
4.
5.

APPROVAL BY CREDIT COMMITTEE

We have today examined the above loan application and have decided as follows:

Loan approved (figures): Ksh._______________________________________________
(in words)_______________________________________________________________

Repayable in (Monhts)_____________________________________________________
Date__/___/______

Chairman:________________________________ Signature:____________________
(Credit committee)

Secretary:_________________________________ Signature:____________________
(Credit committee)

Treasurer:_________________________________ Signature:____________________
(Credit committee)

Member issued cheque number:_________________on Date___/___/___




3
  The amount of shares available to be guaranteed are those that are not yet committed to any other loan either for
the guarantor or any other person that they have guaranteed
KMA SACCO Limited                                                         Member’s Loan Application Form              3
Save Regularly, Borrow wisely, Repay Propmtly

								
To top