
This account is to enable a member of unregistered group get access with the loan facility. He/ she must be a member of the small group of five members formed with the guidance.
Need to maintain a savings account with MHB with a compulsory amount equivalent to a minimum of 20% of the loan being requested.
Features:
- Loans are for existing businesses and not for startups with regular cash flows
- Must attend pre-loans training to be conducted by MHB officers
- Must have attained majority age i.e 18 years old
- Must be a resident in a community where group lending is operational
- Should be willing to attend weekly/monthly meetings as required by MHB without fail