- Group Loan Purpose
Group loan is a loan for farmers who produce and serve their own families like irrigation rice planting, seasonal rice planting, crop planting, animal raising and etc.
- Qualification of group borrower
- Lao national, 18 to 65 years and have their own family
- Member of group loan registered as resident in the same village.
- Possess productive area and with at least 1 year production record
- He must be dedicated, and have insufficient fund to input
- Good mental health, without record of involvement in drugs and gambling
- He must not have any record of any violation of law
- Possess a group member application form and organize group member from 5-10 under the supervision of village and group member.
- Loan amount, Term of repayment, interest rate and charges.
- Maximum loan of 10 million Kip for each group member Loan to be repaid in 12 months maximum(based on the loan purpose)
- Interest rate from 8%-13% per year
- Service charge of 0.5% of the approved loan amount
- Interest rate and charges may be changed from time to time
- Borrowermust present the following documents
- Proposal letter from chief of village addressed to APB branch closest to the Borrower’s residence
- Loan application form provided by APB
- Certificate of Residence, Copy of ID, and copy of registered book of residence
- 2 pieces of 3x4 photos