Others - Coopital (Lekki) Cooperative Multipurpose Society Limited

A. Asset-backed Loan

Eligibility:
– Must have been a member for at least 6 months
– Must have made 6 months of consecutive monthly contributions
– Must have completed payment for land in Coopital Palm Estate, Special Savings, Coopital CMS Real Estate YieldMax, or Investment with Coopital CMS
Loan of not more than 80% of the approved value of the land

Requirements:
– Loan Application Letter addressed to the President stating the loan amount, duration, and purpose, and signed
– Loan Application Fee of N2,000
– Completion of the following forms
– Loan Application Form
– Loan Agreement Form
– Sign-off Letter of Set-off of land to repay loan in the event of default
– Insurance Premium of 1% of Loan Amount
– Repay the loan monthly without a history of default until the loan is fully repaid to build a sound credit history for repeat business
– Interest Rate: 10%p.a
– Default Penal Charge: 2% of the loan balance for each month of default
Collateral:

Title to Land in Coopital Palm Estate, Investment in Coopital, Target Savings, etc

B. Household and Office Equipment Sales

C. Financial Advisory

D. Equity Investment in Member-Owned Businesses