HTML Preview Individual Loan Agreement Form page number 1.
Individual Loan Agreement Form
of the Republic of Ghana (hereinafter referred
to as “the Borrower”) of the other part
IT IS HEREBY AGREED AS FOLLOWS:
1. LOAN FACILITY
The Creditor (Best Microfinance Services Ltd) hereby advances and the Borrower(s) hereby
acknowledge receipt of the principal amount of GH¢
2. PURPOSE OF LOAN FACILITY
This loan facility is to be utilized by the Borrower(s) as
3. PROCESSING FEE
The Borrower(s) shall pay to Best Microfinance Ltd a Processing Fee of % of the Principal
loan amount, which shall be paid upfront before disbursement.
4. INTEREST
The Borrower(s) hereby agrees to repay the facility together with flat/fixed interest thereon at the rate
of % per month on the loan facility.
5. INSURANCE
The Best Microfinance Ltd shall pay a loan premium of % of the loan facility on behalf of
Borrower(s) to cover loan payment in case of death, fire outbreak, floods or permanent disability.
6. REPAYMENT
6.a The Borrower(s) shall repay the loan in accordance with the Repayment Schedule, hereto attached
6.b The Borrower(s) agrees to pay each and every installment not later than the agreed upon
installments date as indicated in the repayment schedule, by means of paying the amount into his/
her savings account
6.c The Borrower(s) hereby empowers the Creditor to debit the said account with any installments
due and owing.
Please fill in the details by typing
This loan Agreement is made this between BEST MICROFINANCE SERVICES LIMITED (hereinafter called
the “Creditor”) with its office situated at Eagle Height Tower, Off Spintex Road Near SSNIT Flats,
Sakumono, of the one part and
of House No