Loans for SCAs

• Who benefits and for what purspose?
• Loan characteristics
• Eligibility criteria
• Required documents
• Loan collateral

Who benefits and for what purspose?

Loan characteristics

• Loan maximum amount - 8 000 000 MDL;
• Loan terms:
  • short term (up to 12 months);
  • medium term (between 12 – 36 months);
• Loans are disbursable in one or more installments;
• Loans are reimbursable:
  • in a lump sum;
  • or in installments:
  • equal or variable.
• Ahead of time loan reimbursement is not sanctioned.

Eligibility criteria

• SCAs must be licensed and active.
• SCAs must be free of debts for credits and/or interest, from other creditors and its members.
• SCAs must be established by MMA.
• SCAs must have, at least, a 3-year credit history.

Required documents

• Loan request;
• Consolidated loan request;
• Cash flow projection;
• Balance sheet projection;
• A copy of the SCA Registration Act;
• The SCA’s statute (a copy, for the SCAs applying for the first credit);
• A copy of the license;
• Executive Director and accountant testifying acts (copies, for every credit)
• A copy of the last year’s Financial Report
• Copies of the Bank’s deposit contracts
• A copy of the Executive Director’s identity card
• Other documents, as per necessity.

Loan collateral