Line Maxx
Loans to salaried workers (government workers such as teachers and lecturers in state owned universities like Takoradi Technical University)
Features and Requirements
- Tenor: between 1 and 12 months
- Interest rate: competitive
- Maximum amount: between 10% and 50% of annual net salary
- Postdated cheques
- Three months most recent pay slips and bank statements
- One guarantor
- One passport-sized photo each of applicant and guarantor
- Valid national ID of both applicant and guarantor
Line Maxx+
Loans to salaried workers with extra income from other rightful engagements.
Features and Requirements
- Tenor: between 1 and 12 months
- Interest rate: competitive
- Maximum amount: 40% of annual net salary and above based on the sources of additional income
- Current three months bank statements
- Postdated cheques
- Three most recent pay slips
- One guarantor
- One guarantor
- One passport-sized photo each of applicant and guarantor
- Valid national ID of both applicant and guarantor
Banker's Pal
Loans to staff of banks and savings and loans companies within Ghana. This is for the payment of school fees, rent, medical bills etc. That is to sort out personal financial challenges that salaries cannot settle immediately.
Features and Requirements
- Tenor: between 1 and 12 months
- Interest rate: competitive
- Maximum amount: 50% of annual net salary
- Current three months bank statements
- Postdated cheques
- Three months recent pay slips
- One guarantor
- One passport-sized photo each of applicant and guarantor
- Valid national ID of both applicant and guarantor
Maxi3
loans to small & medium sized companies for their working capital needs
Targets Segment
- Local contractors/suppliers to the oil and gas and mining companies
- Local distributors of FMCG
- Importers of FMCG
Features and Requirements
- A maximum tenor of 90 days
- Interest Rate: competitive
- To finance LPOs/short contracts/supplies
- Copies of company registration documents
- To finance short term working capital requirements of local FMCG businesses
- Board Resolution for Corporates
- At least six months industry track record
- Recent three months bank statements
- Postdated cheques for the tenor of the facility
- Security (cash collateral/ DVLA vehicle registration documents / land title documents / landed property)
Maxi3 Xtra
Loans to small & medium sized companies who need more than three months to service facilities taking from Loan Line as a result of the timing of their receivables.
Targets Segment
- Local contractors/suppliers to the oil/gas and mining companies
- Local FMCG businesses/Importers
Features and Requirements
- A maximum tenor of 182 days
- Interest Rate: competitive
- To finance LPOs/short contracts/supplies
- Copies of company registration documents
- Board Resolution for Corporates
- To finance short term working capital requirements of local FMCG businesses
- At least six month industry track record
- Recent three months bank statements
- Postdated cheques for the tenor of facility
- Security (cash collateral/ DVLA vehicle registration documents / land title documents / landed property)
Traders Line
A loan given to individual business men and women who are into wholesale and retail of various products such as electronics, clothing, shoes and general merchandise.
Features and Requirements
- Mode of payment is either daily, weekly, bi weekly or monthly
- MMaximum tenor is six months
- Provide collateral depending on the amount taken if above GHS10,000
- Provision of 1 passport picture and a valid ID card.
- Purchase of passbook
Ahoto Line
A group loan given to petty traders (mostly women) for their businesses.
Targets Segment
- Petty traders, food sellers, second hand clothes sellers, fish mongers and anyone into small businesses (buying and selling).
Features and Requirements
- Group members must have individual businesses
- An individual, two or three can have access to a loan but must provide a guarantor.
- A group should constitute between 3 and 5 members. Group members must guarantee for themselves.
- Each individual provides two passport-sized pictures and a photocopied valid ID card.
- Purchase of passbook.
- Loan repayment is done daily or weekly starting two weeks after disbursement.
- Compulsory savings (susu) of GHS10.00 minimum weekly during the tenor of the loan.
Fixed Investments
Loan Line’s fixed investments are secured investment that give higher yields than most commercial banks. This has been possible as result of innovative and sound lending principles to
customers in the micro business environment. Based on amount and tenor of investment, customers can negotiate for higher rates. Below are the types of investment:
- Six months investment (SMI)
- One-year investment (OYI)
Requirements
- One passport sized photograph
- A valid nation ID card
- Proof of address
- Source of funds
Must be noted that customers who intends to pre liquidate their Fixed Investment must give a 31-day notice to Loan Line.
One for One (OfO)
Is a savings product whereby a customer saves a minimum of GHS 50.00 which attracts a maximum of 5% interest rate per annum.
Requirements
- One passport sized photograph
- A valid nation ID card
- Proof of address
- Source of funds
Product Dynamics
- Open an OfO account and deposit a minimum of GHS 50.00
- It attracts a maximum of 5% interest rate per annum
Targets Group
- Government workers
- Oil workers
- Bank staff
- Other white/blue collar job workers
One Save (SUSU)
Is on the move method of saving where you have staff of Loan Line visiting customers at their individual locations to collect deposits either daily or weekly into their account.
Targets Group
Informal sector workers such as:
- Mechanics
- Dress makers
- Shop owners
- Market women
- Drivers
Requirements
- One passport sized photograph
- A valid nation ID card
- Proof of address
- Source of funds
