The main credit products that WML provides include Microcredit, Trade Finance (Clearing of Goods at Ports) and Express Loans.

The following activities is not allowed under credit delivery of WML:

• Payments of other financial obligations from other financial institutions and companies;
• Lending for the production of tobacco;
• Lending to Gaming and Gambling activities;
• Purchase of property not meant for business activities.
• Financing Ammunition and related activities

This is a credit facility provided to SMEs to support cash flow requirements of the business.

• Amount based on cash flow need and size of business operations.
• Repaid as (principal with interest) daily, weekly and monthly
• Tenor within 1 month to 6 months from business operations.
• Amount of loan can be topped up in the course of the loan repayment as needed to fund additional working capital requirement. (Note: This will be applicable to only clients with good repayment track record in the subsequent cycles of the loan. REQUIREMNTS
• 1 Guarantor
• Passport pictures
• Valid identification card

The West One Microfinance Ltd Susu Express Loan is a loan product tailored for existing and potential Susu clients, giving them the flexibility to repay their loan through their daily Susu contributions. Susu Loan clients who are new to West One Microfinance Ltd must be able to prove their capability of paying back the loan from their daily business collections. Only one Susu Loan facility is allowed per client.

• Between GHC500 to GHC 2,000.
•  Mode of repayment is daily Susu Collection (recurring amount).
• The period of repayment must not exceed 6 months.
• One guarantor must be provided. The guarantors must be credit worthy and cannot apply for a loan facility from WestOne while they are serving as guarantor.
• An assessment will be conducted on existing and potential clients by
• Cash collateral of 20% of the requested loan amount is required before disbursement of the loan.
• Processing fee: 6%
•  Interest rate: 6% per month

The features of WML Corporate loans are the following:

• This is the type of loan used to finance cash flow gaps of limited liability business. They are of limited amounts and varies depending on the beneficiaries’ use of the loan and debt service capacity of the borrower.
• The frequency of loan repayments are normally weekly or monthly depends on the production or cash cycle of the beneficiaries’ business.
• Loan term may vary from three (3) to Six (6) months, according to the needs of the customer and the debt capacity.
• Applicants will undergo a strict business appraisal process
• Applicants will be required to provide both tangible collateral and guarantors with good net worth.

REQUIREMENTS:

• Business registration documents
• Board/shareholders resolution
• 6months bank statements
• Audited financial statements for 3years
• Posted dated cheques
• Security coverage value should be 3times the facility requested

This is a facility to enable the client undertake the following activities:

• Pay for import duty and other clearing charges when the goods of the client arrive at the port. (Goods may have to be warehoused under a tripartite collateral arrangement, if necessary)
• Repayment of the credit facility ranges from 30 days to a maximum of 90 days after disbursement and clearing of the goods.
• Disbursement of facility and Payment of port charges shall be made directly to the clearing authorities

REQUIREMENTS

• Bill of laden
• Parking list
• Undertaking signed by both clearing agent and the customer

NOTE: WestOne shall not be responsible for payment of Freight charges.