See the whole cost.
Do not look at a percentage alone.
Before borrowing, understand the total payable, repayment timing and how charges change when you pay late or early.
Prepare step by step
Explain what the money will do
List what you plan to buy and the cost of each item. Separate your own money, the amount you seek and other expected funds. Keep the source and date of each price.
Map the repayment timing
List income dates, household and business costs, and existing debt payments. Check whether money arrives before a payment would be due, especially with seasonal earnings.
Try a difficult-month scenario
Consider a delayed harvest or fewer customers. Write down what you would change and what you would ask. If the figures do not balance, revisit the size of the project before committing.
A one-page project outline
Purpose: ____. Total cost: ____. My contribution: ____. Funding gap: ____. Repayment source and timing: ____. What could delay the income: ____.
Ask for written explanations of total costs, collateral and the repayment schedule. Put the answer beside each question so you can review it after the conversation.
My checklist
Check each item as you prepare it.
Checks are not saved when you leave this page. You can print the checklist before closing it.
Put your preparation to use.
Preparation and calculator results do not establish loan eligibility or approval. The SACCO assesses applications and confirms the terms.
Draft your loan questions