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Bokoli Giant Community Based Organization

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22 views4 pages

Bokoli Giant Community Based Organization

Uploaded by

briansikuku317
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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BOKOLI GIANT COMMUNITY BASED ORGANIZATION

LOAN AGREEMENT
THIS AGREEMENT is made this…………………day of …………………..…………..………BETWEEN

……………………………………………....ID NO………….……………..OF P.O BOX………………….

………………………………………….…..in the Republic of Kenya (Here in-after called the BORROWER

AND…………………………………………..………….GROUP REGESTERED NO……………………..

OF P.O BOX…………………………….……..in the aforesaid Republic (Here in after called the LENDER)

AND WHERE AS the borrower needs financial assistance from the lender.

AND WHERE AS the lender through its members are desirous of lending Kshs….….…only to the
borrower.

AND WHEREAS the group is affiliated to (Bokoli Giant Community Based organization)

NOW IT IS MUTUALLY AGREED BY THE BORROWING AND THE LENDER AS FOLLOWS:

1. THAT the borrower acknowledge receipt of Kenya Shillings………………………..………(Kshs)


……………………………………………………) upon signing hereof.
2. THAT same shall attract the flat interest of Kshs………..……. ( or rate of ……..…..per
Month/Year.
3. THAT the borrower shall pay Kshs…………per Month for…………..Months/Year.
4. THAT the loan shall be paid on or before ………………..(dated)………..(Month)
…………………………………. (Item).
5. THAT the borrower has pledged the following items as collateral/ security with the lender.

NO. ITEM CONDITION OF ITEM VALUE KSH

6. THAT the spouse acknowledge the items above as having been pledged to the group for the loan
Name of

Spouse:………………………………….ID NO……………………..Signature....…..

7. THAT The borrower has not pledged the items above nor will they pledge the same to stand as

Collateral for any other debts).

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BOKOLI GIANT C.B.O
LOAN APPRAISAL FORM (TO BE FILLED BY LOAN APPR. COMMITTEE)
PART A
Name of loan applicant ID NO C.B.O member no
Applicant is a member to group; which is afflicted to the BOKOLI
GIANT COMMUNITY BASED here and for this purpose ‘LENDER’
Total share (current) the afflicted group with BOKOLI GIANT B.O is Ksh

Total no .of members of afflicted group with BOKOLI GIANT C.B.O is


PART B
Amount applied is Kshs in words

Total shares applicant has saved with BOKOLI GIANT C.B.O to date is Kshs
Does the loan amount constitute 20% 0f amount to be borrowed?
(Please tick) yes No
Does the member have any running loan with BOKOLI GIANT C.B.O?
(Please tick) yes No
Does the member have any running loan with his or her afflicted group?
(Please tick) yes No
Has the member pledged collected of value covering loan and interest fully?
(Please tick) yes No
Has the applicant raised enough group co-guarantors? Yes No NO
Has the applicant acquired authority of personal guarantor over collateral pledged as
Guarantee? Yes No
PART C (TO BE FILLED BY LOAN APPRAISAL COMMITTEE)
In the opinion of the loan Appraisal committee acting within the mandate of BOKOLI
GIANT C.B.O; we are here by:-
Approve a loan of Ksh (in words)

Decline approval of Kshs (in words)

Differ approval of loan of Kshs (in words)

2
REASON FOR DECISION

( i , ..........................................................................................................................................

Ii ..........................................................................................................................................

iii .........................................................................................................................................

The loan will be repaid in installments of Kshs per each

NAME. ID NO. SIGN.

SIGNED: CHAIRPERSON:

SECRETARY:

MEMBER:

DATE:

PART D: TO BE FILLED BY EXECUTIVE OFFICIALS

Approved Ksh. (In words)

Reason of alteration of amount if any.................................................................................

.........................................................................................................................................................

REASON FOR REJECTION if any.......................................................................................................

....................................................................................................................................................

Date of commencement of repayment

Approved repayment installment amount

PART E: (TO BE FILLED BY DISPATCH)

Amount/ Value of Cheque: (in words)

CHEQUE NO:

Paid to: of ID NO: MOB NO.

We confirm this payment to the above mentioned in the presence of:-

Director (any) NAME: Sign

Executive Official if (any) NAME: Sign

3
Appointee Official (any) NAME: Sign

DATE:

8. THAT the borrower shall release the pleagded items to the lender upon default of payment until the
loan is paid in full.
9. THAT in default of payment the lender shall sell the pledged items to recover the full amount of the
loan, interest and penalties
10. THAT the same shall be granted by all the group members.
11. THAT penalty and storage charges/costs and those incidentals for the pledged items shall be met by
the borrower.

IN WITNESS WHEREOF the parties set their hands and mark the date herein before written.

SIGNED

BY THE BORROWER

BY THE QUARANTOR(S)

NAME(S) ID NO. SIGNATURE (S)

1
2

IN THE PRESENCE OF OFFICER FROM (Bokoli Giant CBO)

Date:

SIGNED BY THE OFFICIALS OF THE GROUP

IN THE PRESENCE OF OFFICER

From (Bokoli Giant CBO)

CHAIRMAN: Date:

SECRETARY: Date:

TREASURER: Date:

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