VITENDO GATEWAY SAVINGS AND CREDIT CO-OPERATIVE SOCIETY

PRODUCTS AND LOAN REQUIREMENTS SUMMARY

January 2012

CARGO BAY, 7220 N LINDBERGH BLVD, SUITE # 240, HAZELWOOD, MO 63042 TEL (314) 252 0488 E-MAIL: info@vitendogatewaysacco.com, www.vitendogatewaysacco.com

Products and Loan Requirements Summary Vitendo Gateway Sacco

LOAN REQUIREMENTS

Be a member for at least 6 months

Qualifier: - To be approved for a loan a member must have

consistently paid his or her dues to the Sacco on time as per requirements. One must have a record of 12 point. Default(lose) 1month=1pt, Gain 3months=1pts

Advanced up to 3 times total share deposits A copy of the latest pay slip or Earnings Statement from Employer or Income Statement Dully filled loan application form Repayment period up to a maximum of 2 years (3-24 months) General Interest: The effective annual rate 12% (or as specified) 2/3rds rule on disposable income applies Loan must be fully guaranteed if amount applied for is more than total share deposits One may qualify for any of the other loans while still servicing another loan.

PERSONAL LOANS Phase I :

Repayment period up to a maximum of 3 months Maximum Loan Amount $ 1,000

Phase II :

Repayment period up to a maximum of 6 months Maximum Loan Amount $ 3,000

Phase III :

Repayment period up to a maximum of 12 months

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Products and Loan Requirements Summary Vitendo Gateway Sacco

Maximum Loan Amount $ 7,200

DEVELOPMENT/ INVESTMENT LOAN

Business plan or project cashflow projections Be a member for at least 12 months Repayment period12 to 24 months Interest Rate of 4% pm on a reducing balance

CAR LOAN Finance 70% of Car Value Acceptable supporting documents required (Offer of Sale) Repayment period of 6 months Deposit Title or register lien

SCHOOL FEES /EDUCATION LOAN

Acceptable supportive documents required (College fees structure, Class Schedule) Repaid in Maximum 6 months One concurrent loan can be obtained on request where a member qualifies Interest rate of 2% per month

COMPUTER LOAN

Supporting documents required (Sale Ad, Invoice) Repayment period of a maximum 4 months Finances 70% with 30% paid cash upfront

HOLIDAY SAVINGS Savings account where withdrawals can be made in June and/or December

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Products and Loan Requirements Summary Vitendo Gateway Sacco

Earns an interest of % per month Early withdrawal will result in loss of interest earned plus 1% penalty on the Gross

Affirmation To be signed by all CMC Members and witnessed by the Supervisory Committee Officials

NAME 1. 2. 3. 4. 5. 6. 7. 8. 9. 1 0.

POSITION

SIGNATURE

DATE

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