Susu / Group Loan Customers
This category covers mainly petty traders in the markets, who sell on table tops, floor space, and market stalls, and deal in various types of goods ranging from foodstuff, used clothes, imported poultry and meat products, spices etc. These individuals sometimes do have groups 15 e.g. Yam sellers association, onion sellers association, etc, with specific needs but do not have requisite collateral to access funding. Their needs will be met by Equity and allowed to have group guarantee. If they are individuals a cash collateral should suffice.
Micro Loan Customers
These are individuals with enterprises which may be registered or not with the Registrar Generals Department. They mostly operate from pre-fabricated shops, containers and kiosk located mainly along commercial streets, near lorry stations and residential areas. Main business line for this category includes but not limited to groceries, used household items and appliances, food joints, boutique and hardware. However depending on the capacity of the business if duly incorporated with the Registrar Generals Department, an enterprise may qualify for an amount depending on its capacity
This facility will be granted to large corporate entities in Ghana. The business should have been registered in Ghana with the Registrar Generals Department with a minimum of 5 years’ experience in operations. It should have a board and a management team to ensure proper 16 corporate governance. It should have audited financials for at least 2 years. The said business should have an office location as well.
Personal / Payroll Loan
These loans will be given primarily to government workers and individuals belonging to reputable institutions as determined by management. The amount to qualify is largely dependent on the disposable income of the individual.
Usually registered businesses with some level of book keeping literacy with business operations in rented shops. These businesses include hardware, hair products, transport, stationery, boutique, sale of cloth etc. These customers are often involved in whole sale as well as retail. An eligible applicant should have been in business for not less than three (3) years.
Staff loans will be granted to permanent staff of Equity Savings & Loans. To qualify an individual should have completed serving probation and be confirmed accordingly as permanent staff. All other conditions associated with the facility are elaborated in the Human Resource Handbook.
This will be given to commercial drivers who belong to a specific union. Individual salary earners may also qualify depending on their disposable income. The union must have a charter and guarantee for the driver. A percentage of the total amount shall be paid by the driver which will be determined by management in consultation with the board.
Vehicle Maintenance Loan
This loan will be granted to vehicle owners who needs to buy spare parts to maintain a vehicle. Applicants will be required to have the vehicle documentation in their name and the documents deposited with Equity Savings and loans. Form C of the DVLA should be completed by the applicant and together with a spare key in the custody of Equity Savings & Loans.