This is a product designed to allow family members that is husband, wife, child or ward who has no job or business to start or enter into a business with the support of other family members.
Unimas provides the loan to a tune of GHc 20,000.00 as a takeoff. Any family members that have a good source of salary income introduce and undertake to repay the loan amount over an agreed period of time, maximum two years from his/her monthly salary. The family collectively nurtures the business to grow and become a family legacy.
- The product is available for husband, wife, child or ward who is unemployed.
- The guarantor must be a salary worker with a blue chip company or government
- The maximum amount of loan to one individual is GHc20,000.00
- The interest rate is 4% per month
- The tenure is two (2) years
- Insurance protection is for the beneficiary
- The unemployed family member will be gainfully employed in the family business
- The financial burden on the bread winner can be spread/reduced with time.
- The joy of having a family business that can become a family legacy.
- Capacity building training support by Unimas for the would be family business manager on how to manage a successful business is available
- The working member of the family has the opportunity of retiring into the family business.
- Unemployment rate in the country is reduced
Loan Requirements to be provided by Unimas at the application stage.
- A group must have between 15 and 30 members.
- The group attends the Bayport Micro training programme.
- The 6 weeks of training teaches members how to run their group effectively. They also learn all about the Bayport Micro group lending product.
- If the group stays together and works well during the 6 weeks, it graduates from the training.
- Once they have completed the training, the group members can apply for loans that start at GHS 100.
- The loan amount can increase up to GHS 2,700 over a period of time, provided that the group members repay their loans successfully.