About this document
What this document is
This is a loan application form used by a Kenyan investment group, chama, welfare group or similar member association to receive and assess a member’s borrowing request.
Purpose
It records the applicant’s requested loan terms, purpose, repayment proposal, guarantors or security and declarations before the group considers approval.
Key components
- Applicant and group details identifying the borrower, group and membership status
- Loan request setting out the amount, purpose, preferred disbursement and repayment proposal
- Security and guarantor details where the group requires support for the loan
- Applicant declarations and authority to verify submitted information
- Income and existing obligations disclosure for affordability assessment
- Guarantor undertaking confirming responsibility if the borrower defaults
- Group committee assessment and approval record
- Signatures confirming application, approval and acceptance of loan terms
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