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Lolest!
#11 Posted : Friday, September 23, 2011 11:55:53 AM
Rank: Elder

Joined: 3/18/2011
Posts: 12,069
Location: Kianjokoma
SACCOs require 6 guarantors not 10. The tricky part is getting the 6 for big amounts of money
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mwenza
#12 Posted : Sunday, September 25, 2011 12:16:58 PM
Rank: Elder

Joined: 4/22/2009
Posts: 2,863
Lolest! wrote:
SACCOs require 6 guarantors not 10. The tricky part is getting the 6 for big amounts of money



Thought 3 guarantors were adequate.
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bird_man
#13 Posted : Sunday, September 25, 2011 5:12:35 PM
Rank: Veteran

Joined: 11/2/2006
Posts: 1,206
Location: Nairobi
There is no fixed number of guarantors for sacco loans.The simple rule used is that the shares(savings) of your guarantors should be enough to cover your loan in case of default.This could be 1,4,6 or even 10 guarantors.
Formally employed people often live their employers' dream & forget about their own.
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akowally
#14 Posted : Sunday, September 25, 2011 11:31:27 PM
Rank: Veteran

Joined: 5/20/2008
Posts: 1,126
Location: Nairobi
Looking at all the comments, then Saccos seem to be good. Please recommend some good saccos. I need to join this week.

@Amhere
I got that suspension once then some good insight for a client so no other suspension since. In fact the good thing is that there are great potential long term clients there. Don't know much about kina Odesk just that I haven't seen anyone making much money from them.

@Selah
Great to see you too. How you doing. Thought of the banking option many times but when it comes to loans I try to keep off the banks. I'll check out the Faulus and the like. I especially love this Chase bank option. I'll go check it out and give you feedback.

@Lolest!
Interesting name. Anyway yeah, tricky to get the guys for big amounts. My mother the other day together with six other guys were having a hard time repaying a defaulter's loan.

@mwenza
I think @ bird_man nailed it. Good to see you're still around. Hope all is well with you.

@bird_man
Vipi buda...Thanks for the contribution.

I need this real fast. I am even thinking of approaching some individuals, I have seen it working faster that way.
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new investor
#15 Posted : Tuesday, September 27, 2011 2:37:49 PM
Rank: Member

Joined: 11/26/2007
Posts: 118
@ Akowally..if you open an account with my bank and do regular deposits for at least 3 months, we can structure a loan to finance your business. If you get statements from paypal you can get for the last 1 year and let me have a look at them. My contact is <<lizzwangare@gmail.com>>
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akowally
#16 Posted : Tuesday, September 27, 2011 2:49:08 PM
Rank: Veteran

Joined: 5/20/2008
Posts: 1,126
Location: Nairobi
@New Investor

Thanks for the info. I am sending you an email now we see how we can work things out. Thanks.
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bwenyenye
#17 Posted : Wednesday, September 28, 2011 10:54:52 AM
Rank: Elder

Joined: 5/24/2007
Posts: 1,805
@Akowally,

It is good to see someone actualizing the Wazua members dream of being financially sound entrepreneurs. Welcome back and let us know how it goes.
I Think Therefore I Am
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akowally
#18 Posted : Wednesday, September 28, 2011 2:16:22 PM
Rank: Veteran

Joined: 5/20/2008
Posts: 1,126
Location: Nairobi
@bwenyenye

Thanks. I like your signature. I've even used that Proverb as my facebook status i.e. the actual Prov 13.22 which reads

A good person leaves an inheritance for their children’s children,
but a sinner’s wealth is stored up for the righteous.

Anyway I'll let you know how it goes in this thread.

One thing that we are enjoying right now as freelancers is the dollar rate, so for any freelancer, do as much work and earn as much as possible with the dollar at 102.
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akowally
#19 Posted : Wednesday, October 05, 2011 6:16:56 PM
Rank: Veteran

Joined: 5/20/2008
Posts: 1,126
Location: Nairobi
I am still not getting a bank that will finance me without security (land/logbook) or a salary from some known company. I've tried my best with them, including my paypal statements which they have all said is good. I am also communicating with "new investor" above to see if we can work something out with her bank. Thank you very much New Investor.

In case there is anyone else with an idea I'm open to all your opinions. I'm joining a sacco but that will take a couple months before I get the loan and I need it NOW. I'm also now stopping to use paypal as my only account and going back to depositing to conventional banks so that I can easily access loans and overdrafts in the next few months.

I trust that with God there is some way forward.
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