Lashone Cooperative · Member loans
Fair loans for members
Members can borrow for business, housing, school fees and emergencies, with a fellow member as guarantor.
Important: Lashone Cooperative is a registered cooperative society, not a bank. It accepts savings from its members only and lends to its members only. Savings are not insured by the NDIC and earn no guaranteed return. Membership, savings, withdrawals and loans follow the cooperative's bye-laws.
Key rules
At a glance
- Who can borrow
- Members who have saved regularly for 6 months.
- How much
- Up to twice your savings.
- Repayment
- Monthly, over up to 12 months.
- Charges
- A service charge set by the bye-laws, agreed in writing.
- Guarantor
- One member in good standing, who agrees in writing.
Member loans help members when they need it most: to grow a business, finish a building, pay school fees or meet an emergency.
Loans are for members only. Eligibility, limits and repayment follow the bye-laws, and every loan needs a guarantor: a fellow member who agrees in writing to stand behind it.
How a member loan works
1. Apply
Fill in a loan application as a member in good standing.
2. Get a guarantor
A fellow member signs, in writing, to guarantee your loan.
3. Approval and repayment
The committee reviews your application; you repay in agreed instalments.
The cooperative's bye-laws set the exact rules. Read the membership terms.
Why us
Done with care
Members only
We never lend to non-members.
Written guarantee
Every loan needs a guarantor's written consent.
Clear terms
Amount, charges and repayments agreed in writing.
Questions
About member loans
What does a guarantor agree to?
A guarantor agrees, in writing, to be responsible for the loan if the borrower does not repay, as set out in the bye-laws. Only agree to guarantee someone you know and trust.
Can non-members borrow?
No. The cooperative lends to its members only.
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+234 806 217 6383 · cooperative@lashone.com
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