6. Loan Refinancing

This loan will be disbursed to cater for school fees and related expenses.

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  The member must have repaid 70% of the existing loan. 
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   The member must have repaid the existing loan according to the loan agreement terms. 
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   The member must present detailed documents of an ongoing project, activity and/or business and a budget to justify the loan refinancing. 
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   After refinancing, the loan security will be paid on the gross amount of the new loan applied. 
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   The loan will have to be guaranteed afresh. Refinancing will be done only once at any given time and in any loan cycle