MoneyGrow Savings & Credit Co-operative

About

ABOUT US
MoneyGrow Savings & Credit Co-operative Society Limited was started by ordinary Zambians who run small businesses. We started the company to help ourselves raise money to grow our businesses. We wanted a way to access working capital at affordable interest and without the need for collateral. We realized that the best way to do this was to save money ourselves and then lend this money to each other.

MoneyGrow is owned by ordinary Zambians. All individual members own equal amount of shares and have equal say in how the company is run.

HOW WE WORK
1. Every member makes daily, weekly monthly savings through-out their membership.
2. Money saved earns 10% interest every month.
3. Members borrow from saved moneys at 20% monthly interest with no collateral needed.
4. Members repay borrowed money on daily or weekly instalments.
5. Part of the funds saved go towards a member's Pensions Savings.
6. Members receive pay-outs of saved money plus interest earned every 12 months

Keywords

business training, savings, home ownership scheme, asset finance, vehicle ownership scheme, small business loans, pension scheme

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