Utility Loan FAQs
Which Vendors have MoUs with CareCoop linked to the Utility Loan?
- Radian Stores USAID Alternatives to Charcoal
- SARO
- Climate Management
- VenYou Zambia Solar
- Davis and Shirtliff
What are loan application steps?
- Visit any of the vendors physically or via their website
- After a Solution is determined and availability confirmed, the quotation is then delivered to CareCoop together with the loan application
- Disbursement is then concluded with funds paid to the vendor by CareCoop
- Member remits monthly repayments towards the loan
What are the loan terms and conditions?
- ZMW50,000.00 Maximum Amount
- 2% Monthly Interest
- 18 Months Maximum Repayment Period
- Member required to have at least 20% in Savings to qualify
- Funds transfer fee will still be borne by the member
- Loan needs to be insured at 1%, Loan application amount will be, the quotation amount plus insurance to be determined by the formula below: Application Amount = Quotation Amount Plus Funds Transfer Fee (ZMW 55) Divided by 0.99
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