The following are under the Loans Category

• Business Loans

• Group loans

• Equipment Finance

• Agricultural loans

• Salary advance

• School Fees Loans

Coinbox Cooperative Multipurpose Society Limited gives out loans only to her member under five (5) categories of loan type

• BUSINESS LOANS: - Our business loans are defined as moneys needed to fund particular business opportunity that meets up with our stipulations. We therefore only give business loans that fall within the following categories

• LPO Financing: We provide funding for LPO businesses that are issued by any of the companies that are enlisted amongst our participating companies.

• Contract Financing: We provide funding for our members for contract execution as long as the issuing company meets up with our screening standards.

• Stock Financing: This type of loan is provided at the cooperative’s discretion depending on the season and type of goods to be stocked

Features

• The contract instrument should be issued in the name of Coinbox Cooperative Multipurpose Society Limited or payment domiciled to Coinbox Cooperative Multipurpose Society Limited bank account or both.

Benefits

• Members are afforded funds to carry out their businesses.

• Our screening process guides our members against losing money or playing into the hands of tricksters.

Eligibility

• Members of Coinbox Cooperative Multipurpose Society Limited

• Staff of an organization/ Member of an existing group

• GROUP LOANS: Members of the group take turns in accessing the loan in twos (2) or threes (3) while the rest of the group guaranties them, once total repayment is done the next set becomes loan eligible.

Our business loans cover three (3) areas

• Personal Loans

• Working Capital Loans

• Asset Acquisition Loans

Features

• A group of ten (10) is required

• A maximum of five (5) persons within a group can access the loan at each point in time

• Those accessing loans must have a minimum of 15% of the total group loan value in their individual accounts

• Other members of the group must have 10% each of the total value of the group loan

• These amounts are locked for the total period of the group loan ( this means that this moneys can only be withdrawn after the last repayment of the last person in the prevailing circle of loan

Benefits

• Members are afforded funds to meet their various needs.

• Members do not need collateral to access funds

• Members do not need to go scouring for guarantors

Eligibility

• Members of Coinbox Cooperative Multipurpose Society Limited

• AGRICULTURAL LOANS: The Federal Government and the State Government adequately caters for planting and breeding in the Agricultural Industry. We at Coinbox Cooperative Multipurpose Society Limited focus on harvest and processing funds, categorized under three (3) enlisted topics

• Equipment Finance

• Export / Import Finance

• Harvest Finance

Features

• Equipment will be purchased in the name of Coinbox Cooperative Multipurpose Society Limited until full repayment

• Domiciliation of payments

Benefits

• Members are afforded funds to carry out their businesses.

Eligibility

• Members of Coinbox Cooperative Multipurpose Society Limited

• SALARY ADVANCE: This is a thirty (30) days max loan for members that are not able to access this facility in their place of work.

Features

• The loan is repaid with the very next salary day or 30 days after (whichever comes first).

• The loan is repaid within the very month of accusation

• Cannot access more than 50% of one’s salary

Benefits

• Members access to emergency funding

Eligibility

• Members of Coinbox Cooperative Multipurpose Society Limited

• SCHOOL FEES LOANS: This loan just as the name suggests is to help our members meet up with their obligations.

Features

• Three (3) months is the maximum duration of this loan

Benefits

• Members are afforded the opportunity to spread their responsibility

Eligibility

• Members of Coinbox Cooperative Multipurpose Society Limited