ADEHYEMAN Savings & Loans Company Ltd - Loan Products

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Profile and History

Adehyeman Savings and Loans Company Ltd. (Adehyeman) was licensed by the Bank of Ghana on 11th January 2005 under the Non-Bank Financial Institutions Law (PNDCL 328) as.....

Flash Loans:

A. Specific eligibility criteria:

Have a regular cash flow.
Business should have existed and operated for at least six months.
In case of activities with highly seasonal trend, business should have existed for at least a year.
In cases where loan is needed to start trading, non traders must have been in employment (that is, the source of employment being used to access the loan) for not less than a year.
Be owned and operated by a Ghanaian resident(s) residing in Ghana.
Have a minimum equity of GHC 200.00 (Ghana cedi).
Business must be operated within the defined zone of operations for our branches.

B. Basic documentary requirement:

Sales book (where available).
Purchases receipt and other purchases related invoices (where available).
Bank statement (where applicable).
Evidence of business ownership.
A national identity card.

C. Features

Product specification	Condition
Who qualifies?	Any regular income earner/business owner. Preferable must be a member of a market group or an association.
Purpose	For investing into trade businesses (Working Capital) or acquiring business assets (Fixed Asset)
Mode of calculation	Instalments will be calculated using the flat method on a monthly basis.
Security	Cash Securities, Business & Household Assets and Inventories are the acceptable collaterals. The total collateral value should not be less than the following percentages of the approved loan amounts:
Guarantor requirement	1. One fully employed family related guarantor 2. An additional non-related guarantor is required in case the family related guarantor is not employed or without regular income.
Cost	*Interest rates* are very affordable and extremely competitive. *Disbursement fee* is a fixed rate of 3.5% for all Flash Loans and is taken upfront.
Maturity	Maximum maturity for the various loan products will be as follows: Working Capital Fixed Assets New applicant - 6 months 10 months Repeat applicant - 8 months 12 months Exceptional cases may be considered depending on the loan purpose; however Maturity limit will not exceed 18 months.
Processing time	New applicants - 3 working days Repeat applicants - 2 working days
Mode of repayment	Loan repayment is made via a current account owned by client with ASL.
Loan modification	Loans can be restructured, rescheduled and/or refinanced before maturity.
Limit	Min - GHC 100.00 Max - GHC 1,000.00