How to request a loan from Credit union Cameroon

request a loan from Credit union Cameroon

As the economists say, the best form of capital in business is human Capital. That's the business the business idea you have is the most important. Now you might have this business idea with no adequate finance, Credit unions in Cameroon can Grand you a Loan with Cheaper interest rate to fund your business if you request and follow the right steps.

Today I will share with you how to request a loan from Credit union and finance any of  your business ideas. So, Let's get started

How to request a loan from Credit union Cameroon to fund a business

To request for a loan in any credit union in Cameroon is simple and straightforward.

1. Move to your Credit union

2. Meet loan officer 

3. Write a letter to request the loan

4. Submit all necessary documents

5. After loan analysis, loan will be granted

Get brief explanation of the points above below

1, Move to your credit union: Locate your Credit union, if you don't yet have an account in a credit union, you need to create one. It's cheap.

2, meet the loan officer: He or she is the one to analyze your loan request to see if you meet all requirements. If you already have an account, you should definitely have a loan policy of that credit union.

3, Write a letter to request Loan: The loan officer will guide you with a craft letter, you fill your details ( names age address, Loan purpose) and address it to the President of the union.

4, Submit all documents: Documents of what will backup your loan should be submitted to the loans officer for checking and confirmation.

5, loan Analysis: After submitting all your documents, the loan officer will do Loan analysis ( visiting your business site and home address, checking the Collateral, transferring collateral to the Credit union via a lawyer etc). Your capacity to repay the loan, previous loan history etc will equally be checked and it determined if the loan will be granted or not.

Note: Credit union have their slightly different lending policies and procedures, you might Also encure some cost during the process of requesting a loan.

Conclusion

If you have a business idea with little Capital you can request a loan and Credit union can Grand you the  loan providing you meet their requirements.

Thanks for reading, if you have any questions about how to request a loan from any credit union in Cameroon, ask in the comment section. I will try my best to answer you.

Please don't also forgot to share this article with your business partners.

Also read: Types of loans granted by credit union Cameroon