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Name of the Organization : Microfinance & Small Loans Scheme
Type of Facility : Loan Application Procedure
Country : Ghana

Official Website : http://www.masloc.gov.gh/

Loan Application Procedure :

Microfinance and Small Loans Centre (MASLOC) is a microfinance apex body responsible for implementing the Government of Ghana’s (GoG) microfinance programmes targeted at reducing poverty, creating jobs and wealth.

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Over the years MASLOC has modestly established itself not only as a microfinance institution that disburses micro and small loans to the identified poor in the various sectors of the Ghanaian economy, but also provides business advisory services, training and capacity building for small and medium scale enterprises (SMEs) as well as collaborating institutions, to provide them with the required skills and knowledge in managing their businesses efficiently and effectively.

Eligibility Criteria for MASLOC Loans :
Micro-credit or Group Loans :
** The Group or cooperative society membership must be between 5 and 25;
** Individuals in the groups must be between 18 and 65 years and of sound mind;
** The Group shall have common production or operational interest; and
** The group shall have its own leaders – mainly the Chairman and the Secretary, and with internal rules and regulations;

Small Loans :
** Applicant must be between 18 and 65 years and of sound mind;
** Must have an ongoing business venture or project;
** Must have sound knowledge and considerable experience in the business venture or project;
** Start-up projects or business must be viable and capable of generating employment.

Wholesale Lending :
** Must be a recognised entity registered under the laws of Ghana;
** Must be committed to poverty alleviation;
** Submit a business plan or proposal;
** Submit operational manuals especially credit;
** Provide current audited or unaudited financial statements.

Note :
*Because of the kinds and levels of people it deals with, MASLOC does not generally require its customers to provide any business plan before accessing the loan.

Benefits of using MASLOC :
** Easy to apply
** Very accessible
** Very fast loans
** Highly competitive interest rates
** Flexible repayment schedules based on gestation period of project
** Less cumbersome application procedure
** Receive training and capacity building services
** Business advisory services

How to Access MASLOC Loans :
To access MASLOC loans, one must go through the following processes :
** Submit a written application to any of our District Offices nearest you, stating the loan amount and the purpose of the loan;
** You will be invited by one of our Loan Officers for preliminary assessment;
** You will be advised on best practices, MASLOC’s interest rates and other information you need to know;
** Should you qualify for the loan, your loan application will be processed; and
** For MFIs, MDAs, NGOs, Banks etc.- a business plan or proposal will be required.

Contact Us :
Micro-Finance and Small Loans Centre (MASLOC)
29 Third Circular Road, Cantonments
Private Mail Bag 261
Cantonments
Accra.
Ghana.

Tel : +233 -0302- 782527, 0302-782528, 0302-782643
Fax : +233 – 302-782532

For further enquiries, kindly contact our call centre on the following numbers : 0302-769248; 0302 782622 or our Head Office address below or any of our offices in the Regional capitals of Ghana.