To qualify for microcredit, commonly known as “group loans”, only applicants that have organized themselves into groups, associations or cooperatives are eligible.

Such groups should be between five and twenty-five members each. Such groups should preferably have a common production or operational interest.


• The Group or cooperative society membership must be between 5 and 25;

• Individuals in the groups must be between 18 and 65 years and of sound mind;

• The Group shall have common production or operational interest; and

• The group shall have its own leaders – mainly the Chairman, the Secretary, the Treasure and with internal rules and regulations.

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The objective of MASLOC is to provide, manage and regulate on fiduciary basis, approved funds for microfinance and small scale credit schemes and programmes and also serve as the apex body of the microfinance sub sector. For the purposes of the objective stated above, MASLOC shall :

Engage directly or indirectly in microcredit and small loans business.
Promote and enhance the development of a decentralized microfinancial system.

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