2.3 Registering new loan Copy
A member wishing to take a new loan must stay until the end of the meeting. The member should wait at safe distance. This has multiple purposes, one to get confirmation from each member on the loan that is to be given out to this member, second to collect all savings in the meeting before giving out a new loan, and third to identify members that will be guarantors/reminders to the loan. The loan then gets registered on the ledger and passbook.
Jamiipay app users: new loan can be registered as usual in the application by clicking ‘New Loan’ on the meeting overview screen.
SG member with registered phone will get an SMS notification right away with the receipt of their loan amount, service charge and loan repayment date.
Non Jamiipay users: secretary registers new loan
by a member on ledger and passbook as the member observes from a safe distance. When signature by the guarantors and the borrower is made on the ledger, previously safety requirements listed on this guideline should be fulfilled.