zfruitfulfieldmcs.com

Our Loan Packages

At Z-Fruitful Field Multipurpose Cooperative Society Ltd, we understand that access to timely financial support can help individuals and businesses overcome challenges, meet urgent needs, and achieve their goals faster. That is why we provide flexible, reliable, and member-friendly loan packages designed to support different financial needs and lifestyles.

Our loan services are structured to offer convenience, transparency, and affordability while ensuring responsible lending practices. Whether you need quick financial assistance for personal expenses, business support, market activities, or emergency situations, our cooperative provides loan options tailored to suit your capacity and repayment plan.

We offer different categories of loans including Standard Loans, Soft Loans, and Market Place Loans, each designed with unique features, flexible repayment options, and accessible requirements for members in good standing with the cooperative.

At Z-Fruitful Field MCS Ltd, we are committed to making the loan process simple, fast, and supportive while maintaining trust and accountability in all transactions. Our goal is to empower members financially by providing dependable financial solutions that promote growth, stability, and economic empowerment within our community.

All loan applications are subject to approval by the Management and Loan Committee of the cooperative.

 
 

Standard Loan

– Interest Rate: 10% per month (Reducing Balance)
– Processing Fee: 5% of the approved loan amount (one-time)
– Collateral: Required, subject to the loan amount requested
– Guarantor: One (1) reliable guarantor is required
– Witness: One (1) witness is required
– Loan Tenure: Maximum of 4 months
– Maximum Amount (First-Time Borrower): ₦200,000
– Default Penalty: 20% compounded monthly until full repayment

Soft Loan

– Interest Rate: 20% fixed
– Processing Fee: None
– Collateral: Not required
– Guarantor: Not required
– Referee: One (1) referee must attest to the credibility of the member
– Loan Tenure: Maximum of 30 days
– Loan Amount Range: ₦5,000 (minimum) – ₦50,000 (maximum)
Repayment Options:
– Daily repayment, or
One-time repayment at the end of the loan period
– Default Penalty: 2% daily until full repayment

Market Place Loan

– Interest Rate: 10% fixed
– Processing Fee: 2%
– Collateral: Not required
– Guarantor: Not required
– Referee: One (1) referee must attest to the credibility of the member
– Loan Tenure: Maximum of 30 days
– Loan Amount: ₦25,000 & ₦50,000
Repayment Options:
– Daily repayment,
– Default Penalty: 2% daily until full repayment

Loan Application form

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