CENTENARY SACCO SOCIETY LIMITED C.S NO. 10068

INVITATION FOR EXPRESSION OF INTEREST

CENTENARY SACCO Society is a Savings and Credit Cooperative Society in the Catholic Diocese of Meru registered on March 18th 2003. The main objective of the Society is to mobilize savings and lending loans to individuals and groups at affordable terms and conditions. The SACCO is in the process of introducing Project Financing Loans to groups (Income generating projects) and invites expression of interest from interested groups. CENTENARY SACCO will be involved in the project implementation to ensure that the funds are well utilized.

WHO ARE ELIGIBLE

DOM SACCO seeks to partner and collaborate with Church groups that aim at improving the economic status of their membersto meet the Diocese of Meru Strategic plan of uplifting the economic status of her people by doubling their income by the year 2010. We also aim at eradicating poverty and job creation with special interest on the Youth and Women

TERMS AND CONDITIONS OF THE LOAN

  • The Loan must be between Kshs 50,000.00 and Kshs 300,000.00
  • The repayment period of the Loan is not more than twelve (12) installments with a 3 Months grace period.
  • The group contribution in cash must not be less than 20% of the total project cost before receiving the Loan.
  • Interest rate 10 % deducted up front from the loan or paid before the Borrower receives the Loan.
  • The loans will be guaranteed by a personal guarantee by the officials
  • That the Loan shall only be used for the purpose intended and listed.

HOW TO APPLY FOR PROJECT FINANCING LOAN

Interested groups are invited to send an “Expression of Interest” to CENTENARY SACCO with the following information:-

a.)Name, Physical address, and Postal address including telephone and email contacts (if any)

b.)Name and Title of the Contact person

c.)Membership by gender
18 yrs and below
18 to 35 years and
over 35 yrs

d.)Geographical coverage of membership (Location, Sub location, Prayer House, Parish etc)

e.)Description of the Project including justification

f.)Total project cost

g.)Amount of loan requested (not more than Kshs 300,000.00)

h.)Group contribution ( not less than 20% of the total project cost)

i.)A projection of expected performance of the project (Budget)

j.)An indication/Explanation of how the loan will be repaid

All expression of interest must be received on or before 25th of every month

Decisions on all Expression of Interest received will be made and results communicated to the applicant within one month of receipt of Expression of Interest.

CENTENARY SACCO SOCIETY LTD.

P.O BOX 1207 – 60200

MERU.

TEL. 064 – 32236 / 0734-432-099 / 0720826908

Email address –