Amigos Cooperative Offers Loans up to 200,000 Br for Entrepreneurs Using Salary Collateral

Amigos Savings & Credit Cooperative is offering loans up to 200,000 birr for entrepreneurs using salaries as collateral. With a maximum repayment period of two years and a 14% interest rate, borrowers must bring a guarantee with a salary of at least 20,000 birr to qualify for the maximum loan amount under this model.

According to Amigos, the loan application process takes approximately one month, and applicants are required to save 25% of the requested amount to access the funds. Both private and public employees can be used as a guarantee, while a letter from their employer is necessary, along with other required documents.

The cooperative, which recently celebrated its 10th anniversary,...

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