Loan Requirements for Ensra SACCO
Member Eligibility Criteria (The Foundation)
Active Membership
The applicant must be a registered member of Ensra SACCO and have maintained active membership status for a minimum period (e.g., 3 months or 6 months).
Consistent Savings/Deposits
The member must have made regular monthly contributions (deposits/share capital) for the required minimum period. The maximum loan amount is typically a multiple of a member's deposits.
Ability to Repay (2/3 Rule)
The total monthly loan deductions (including the new loan) must not exceed two-thirds (2/3) of the member's gross monthly salary or income.
No Default History
The member must have a good credit history—no outstanding defaults on previous Ensra SACCO loans, and generally, no adverse listing with a Credit Reference Bureau (CRB).
Minimum Share Capital
Must have paid up the minimum required non-withdrawable Share Capital as stipulated in the SACCO's by-laws.Guarantor Eligibility
Guarantor Eligibility
If the loan requires guarantors, both the applicant and guarantors must have sufficient combined deposits and be active members with no prior defaults.
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