01 What loan products do you offer?
We offer productive group and individual loans. Our loans are to be used for income generating purposes, or to light up your home and/or pump water with solar power. For micro-enterprise Group Power loans (meme kapanas), you should be a member of a community-based group comprising at least five and up to 20 members who are running their small businesses. For individual loans, we offer our SMME Power and Solar Power loans and Lima Power loans for agribusiness activities.
02 How long does it take to access a loan from Kongalend?
Loan processing takes at least two weeks provided that all loan application requirements are met and all necessary documents are submitted.
03 How much do I have to pay back monthly?
Your regular monthly repayment/Instalment depends on the approved loan period and amount (the longer the loan period, the less the loan Instalments). Your Loan Account Officer will provide you with a loan repayment schedule that tells you how much you will pay per month.
04 How much can I apply for?
Our loan amounts range from N$1,000 to N$250,000.
05 What collateral do you require for the loan?
You are required to make a cash security buildup contribution. This is equal to three times and up to eight times your monthly instalments. This amount must be paid into your CSB account before a loan can be paid out. This amount is refundable once your loan is repaid in full.