The place to borrow money is not limited to the bank. In addition to through fintech companies, cooperatives can also be used as a place to borrow money in the amount needed.
Who doesn’t know a cooperative? When newly formed, cooperatives only focus on their members, both in terms of savings and loans. But now, along with the development of its business, cooperatives are also increasingly following the needs in business competition. One of them is an unsecured loan program.
Financial problems are often felt by wider community
Moreover, now financial problems are often felt by the wider community from various circles. Financial needs are also not just a necessity for daily living but also the need for health, education, credit and others.
In fact, there are often financial problems that come suddenly and require us to borrow a number of funds to friends, relatives or financial institutions such as banks. Applying for a cooperative loan without collateral can indeed be a fast and appropriate way to overcome the problem of lack of funds. What is the process like?
Conditions for Cooperative Loans without Loans
The requirement to apply for a loan in a cooperative includes various documents that we must fulfill. Among them are photocopies of husband and wife ID cards when married, photocopies of KK, salary slips and electricity bills. In addition, we must also be members of cooperatives and fill out loan forms.
Looking at the conditions above, of course we must first register ourselves as a member of the cooperative. After the general conditions above have been completed, it’s time to follow the next steps. Begin by completing the loan application filing file and submit a proposal for the purpose of using the funds. For example, we want to borrow funds for business capital.
The management of the cooperative will consider the proposals that we submit and the loan procedures that have been predetermined. If the loan proposal is approved, the disbursement of the loan and the length of the refund period will be determined based on mutual agreement and set forth in the cooperative contract.