The Procedures and Features of the products
- The applicant must have been a member for the last six months and a member to a dairy cooperative society.
- Expected income from sale of milk must be channeled through FOSA
- The Loan amount is 3 times the deposits.
- The interest rate will be at 14% per annum on a reducing balance.
- Maximum loan amount will be Kshs. 150,000.
- The repayment period will be 12 months.
- At least 4 guarantors who must be Sacco members
- All applications must be supported by a proposal on how the funds will be utilized
- Payment of milk throughout the entire loan repayment period must not be changed
- Direct payments to the suppliers (source of breed) is encouraged
- Cows bought will have to be insured and will form part of the collateral for the loan
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