Utility Loan FAQs

Frequently Asked Questions

  • Which Vendors have MoUs with CareCoop linked to the Utility Loan?
    1. Radian Stores and USAID Alternatives to Charcoal
    2. SARO
    3. Climate Management
    4. VenYou Zambia Solar
    5. Davis and Shirtliff
  • What are the loan application steps?
    1. Visit any of the vendors physically or via their website
    2. After a Solution is determined and availability confirmed, the quotation is then delivered to CareCoop together with the loan application
    3. Disbursement is then concluded with funds paid to the vendor by CareCoop
    4. Member remits monthly repayments towards the loan
  • What are the loan terms and conditions?
    • ZMW50,000.00 Maximum Amount
    • 2% Monthly Interest
    • 18 Months Maximum Repayment Period
    • Member required to have at least 20% in Savings to qualify
    • Funds transfer fee will still be borne by the member
    • Loan needs to be insured at 1%, Loan application amount will be, the quotation amount plus insurance to be determined by the formula below: Application Amount = Quotation Amount Plus Funds Transfer Fee (ZMW 55) Divided by 0.99