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32 Lyndhurst Road
Cross Roads
Kingston 5
Tel: (876) 968-1202
Unit 5, Winchester Business Centre,
15 Hope Road,
Kingston 10
Tel: 754-5352 / 754-6661
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Loans Offered to Our Members
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We offer a wide range of loans for provident and productive purposes at very attractive interest rates.
Members are eligible for loans within Shares immediately after gaining membership. Members qualify for loans outside of their Shares after saving with us for three months.
Categories of Loans:
- Agriculture
- Debt Consolidation
- Education/Training
- Household Furnishings and Appliances
- Insurance - Life and Property
- Medical Expenses
- Real Estate
- Transport
- Vacation/Travel
- Wedding Expenses
- Funeral Expenses
Loan Checklist
Proof of Income
- Salaried Individuals: income verification letter and last two pay advices
- Self-Employed: financial statements (audited or in house)
Collateral
- Qualifying Shares
- Motor Vehicle (10 years or younger)
- Real Estate (must be insured)
- Life Insurance Policy (80% of cash surrender value)
- Cash at other Financial Institutions
- Guarantor
- Co-maker
Contact Persons
- Name of 2 Relatives and 2 References
- Home and Work Addresses and Telephone Numbers
Identification
- One Passport Size Photograph and TRN
Loan Type
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Required Documents |
Motor Vehicle
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- Import Entry (where applicable)
- Pro-forma Invoice
- Receipt of Down-Payment (where applicable)
- Certificate of Fitness, Registration, Title
- Drivers License
- Valuation Report (from our list of accepted valuators)
- Vehicle has to be comprehensively insured for one year and open.
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Building/Home Improvement |
- Proof of Ownership (duplicate certificate of title)
- Detailed estimate of repairs (material & cost)
- Approved Plan
- Valuation report (not more than 12 months old) from list of approved appraisers
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Land Purchase/Legal Fees/Deposit |
- Signed Sales Agreement/Letter from Vendor/Attorney Outlining Location of Property, Purchase Price and Down-Payment
- Letter from Attorney Stating Required Legal Fees
- Statement from Mortgage Company Stating Total Mortgage, Monthly Payment and Term of Loan
- Receipt for down payment
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Business
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- Estimate of Expenditure
- Cash Flow Projection for One Year
- Credit References from Previous or current Creditors
- Business Proposal or One (1) Page Description of Business
- Financial Statement for at least the last two years
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| School/Wedding/Car Repairs/Etc. |
- Letter of Acceptance
- School Voucher
- Estimate for Wedding
- Copy of Title/Fitness and Registration
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Funding for this web site was provided by the Private Sector Development Programme (PSDP), a joint initiative of the Government of Jamaica and the European Union. The views expressed on this web site are those of the Broadcast and Allied Co-operative Credit Union Limited and do not necessarily reflect those of the PSDP |
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