Do you have an idea or concept for your own startup or small business operation that you would like to pursue?
Do you lack the financial capital to get started?
The SVG Teachers Co-operative Credit Union can put your mind at ease, by providing you that Business Loan or Micro Loan needed to get started or expand. So what are you waiting for? Let’s make your business a reality!
Business Loan Requirements:
- Present a business plan.
- Have at least 20% of the sum of the amount requested in Shares (30% for vehicles).
- Provide adequate security.
- Certificate of registration for business.
- Proof of income – job letter and/or most recent salary slip.
- Proof of address – utility bill.
- Valuation report done by one of our accepted valuators.
- A certified survey plan.
- The title deed for the property to be mortgaged.
- Insurance policy on house.
Micro Loan Requirements:
These loans are issued to members who require financing for the start up or expansion of a small business. The following conditions apply:
- Applicant(s) must have at least 10% of the sum of the loan being requested in their Share deposit account.
- Proof of address (utility bill).
- Two(2) recent references.
- Applicant(s) must have a good credit record.