Article Index

Documents to be fulfilled

  • Credit Application: The loan application should be stamped and signed by the chair person in case of cooperatives and in case of S.co, Plc, Partnership and sole proprietorship it should be signed by the General Manager.
  • Renewed Business/Investment License: All borrowers (Cooperatives, S.Co., Plc, Partnership and Sole proprietorship) shall be required renewed business license for the period the loan is requested
  • Evidences of working premises: The working premises can be either rented, owned, provided by the municipality or other source. If rented, the rental agreement or if provided by municipality temporarily ownership certificate or if it is from other source ownership certificate should be presented.
  • Copy of renewed identity card of individual applicant and his or her spouse (if married). Marriage certificate is also required.
  • Evidences of Skill or Experience: Operators or member/s should have experience, skill or training of the job that the borrower has planned to undertake. The evidence that certifies the skill/experience becomes more important especially, if the job is technical and requires special skill.
  • Registered memorandum and Article of associations (for all types of business other than Sole proprietorship).
  • Pre-loan saving: borrowers are required to save 10% of the loan request as a pre-loan saving.
  • Business plan with forecasted cash flow statements: All contents of the business plan should be recorded and posted properly. The figures on the business plan should be properly tallied and posted to each subsection accurately.
  • Financial statement prepared by legally authorized accounting firm but for loan request greater than 2million Audited financial statement report prepared by legally certified auditing firm is mandatory (for existing business)
  • Tax payer registration certificate, if applicable
  • Collateral. If the collateral is house it should supported by photos taken from different angles.
  • pro-forma invoice, if applicable
  • Insurance agreement (right after loan is approved), if applicable
  • partnership agreement like subcontracting agreement and others, if applicable

Collateral Options

Ø  House Collateral

Ø  Salary Guarantee

Ø  Time deposit certificate /Evidence of blocked account

Ø  Vehicle Guarantee

Ø  Mix of any type mentioned above

  1. WEDP Loan

This WEDP loan is intended to enhance women owned individual businesses or enterprises. The main targets are individual businesses owned by women and of organized women enterprises in any one of the business types, sole proprietor, Private Limited, Share Companies and partnerships that are registered with the concerned bodies & fulfill all necessary criteria’s. The targeted women can be of educational background, being graduates from Technical Education and Vocational Training (TEVT), Colleges and Universities as well as other unemployed women & youths those have interests of running businesses either individually or in organized one. The women should fully or fifty percent plus own the enterprise and demonstrate good entrepreneurship knowledge and skills. Since there may be high failure rate of new business start-ups, it is recommended to focus mainly on the existing businesses to be financed under WEDP; if exceptions are made to this policy, they should only be made for extremely qualified and experienced entrepreneurs. 

Target/Customer segment 

  • Women entrepreneur who are residing in the operational area of the lending branch
  • Women lead existing business

Eligibility criteria for WEDP loan

  • Good management capability
  • Stayed in business for at least 6 months
  • Age between 18 – 60
  • Willing to accept other OCSSCO‟s credit policies and procedures
  • Women owned business i.e. if members are greater than one, more than 50% of the members should be female.
  • Good character including the clients credit history, household stability and support as well attitude towards credit repayment
  • Permanent resident of the operational area of the lending branch and able to present Gand ID card.
  • Viable business plan,
  • WEDP ID or green card from concerned body
  • Renewed or valid Business License,
  • Job related experience and skills of operating business,
  • Appropriate working and sales outlets
  • Willing to present financial statement prepared by legally authorized accounting firm but for loan request greater than 2million Audited financial statement report prepared by legally certified auditing firm is mandatory (for existing business)
  • Able to present appropriate matching collateral/s

Documents to be fulfilled

  • Credit Application: The loan application should be stamped and signed by the chair person in case of cooperatives and in case of S.co, Plc, Partnership and sole proprietorship it should be signed by the General Manager.
  • Business plan with forecasted cash flow statements: All contents of the business plan should be recorded and posted properly. The figures on the business plan should be properly tallied and posted to each subsection accurately.
  • Renewed Business/Investment License: All borrowers (Cooperatives, S.Co., Plc, Partnership and Sole proprietorship) shall be required renewed business license for the period the loan is requested
  • Evidences of working premises: The working premises can be either rented, owned, provided by the municipality or other source. If rented, the rental agreement or if provided by municipality temporarily ownership certificate or if it is from other source ownership certificate should be presented.
  • Copy of renewed identity card of individual applicant and his or her spouse (if married). Marriage certificate is also required.
  • WEDP ID/Green Card
  • Evidences of Skill or Experience: Operators or member/s should have experience, skill or training of the job that the borrower has planned to undertake. The evidence that certifies the skill/experience becomes more important especially, if the job is technical and requires special skill.
  • Registered memorandum and Article of associations (for all types of business other than individual).
  • Financial statement prepared by legally authorized accounting firm but for loan request greater than 2million Audited financial statement report prepared by legally certified auditing firm is mandatory (for existing business)
  • Tax payer registration certificate, if applicable
  • Collateral supported photos for house collateral
  • Pro-forma invoice, if applicable
  • Insurance agreement (right after loan is approved), if applicable

Collateral Options

Ø  House Collateral

Ø  Salary Guarantee

Ø  Time deposit certificate /Evidence of blocked account

Ø  Vehicle Guarantee

Mix of any type mentioned above