Services
As people–centred or customer focus oriented financial institution we operate along (5) five main affinity groups with the vision of providing our valued customers with tailor-made financial products and services to meet their individual/groups and business needs.
EXCELLENT CREDIT (Our Corporate Aim)
The Company aim at offering financial assistance to all indigenous Ghanaian businesses. These facilities/products are to support and facilitate business growth from the smallest level (initiation) to its fullest potential (maturity).
Jakdolph is committed to broadening the scope of its products and making them available and accessible to all Ghanaians within deprived areas of the country. (We shall reach the unreachable)
People living in deprived conditions, communities and societies in deplorable situations and desolate areas to be supported based upon our capacity and ability.
COMMUNITY DEVELOPMENT (social responsibilities)
As part of our corporate Social responsibilities we may commit to the following below:
- Community development, education and sanitation
- Create or support recreational facilities within our catchment areas
- Provide tailored sponsorship packages to enhance community developments and job creation
- Promoting family health and awareness malaria and its associated preventive mechanisms.
- Commit to general cleanliness within catchment areas among many others.
SOCIAL PROGRAMMES ENROLMENT
- Productive health Campaign
- HIV/AIDS awareness topics & programmes
- Family planning
- Poverty alleviation/eradication topics
- Environmental cleanliness campaigns
- Social gathering/durbars
- Water & sanitation topics/education
- Wealth creating-activities and programs
- Minors and girl child education
- Support for the less privileged and the physically challenged in our community.
Primary Products
GROUP LOANS (GL)
People grouped together in numbers of 5-30 with the aim of assessing loans to improve their livelihood, social status and trade/business.
a. Processing fee of 2% shall be charged on all principal funds disbursed. This shall be collected at the disbursement point on the day funds are given out to the customer.
b. Interest rate shall be applied on a monthly basis on all principal funds disbursed
c. Duration:
1st loan: 4-5 months compulsory
2nd loan and beyond: 3-9 months.
d. Amount disbursed shall range from:
(i) 1st Loan: GH¢300.00-600.00.
(ii) 2nd Loan: GH¢600.00-GH¢1,500.00.
(iii) Subsequent loan: shall be 50% addition to the previous loan amount granted (if repayment is 100% closed & subject to vigorous scrutiny by management of Jakdolph).
GUARANTEE SYSTEM/QUALIFICATION
Customer shall deposit 10% of the amount to be disbursed to him/her.
The group shall guarantee for themselves in all cases and they are liable to pay for each other when one defaults on a particular repayment day.
GROUP FORMATION AND ACCESSIBILITY
One must reside within the community to join the group with the aim of assessing the loan. Group members must know each other very well. The group must comprise of people living in the community or one area.
LOAN ASSESSMENT & DISBURSEMENT
One must save (make Susu) for 3 weeks with the group leader at their group meeting. Loan application forms shall be completed after attending 3 consecutive meetings prior to loan request.
REQUIREMENTS
- Any valid national ID card is accepted for identification e.g. Voters ID card, national identification card, NHIS Card, Driver’s license, passport etc.
- 2 passport size pictures with applicants name printed at the back and endorsed by group leader.
- Application forms must be properly completed and signed by applicant/customer.
- Commit to attend weekly meetings where repayment shall be collected.
SAVINGS POLICY
It is mandatory and expected that all loans granted or disbursed shall have a deposit of 10% of the principal amount granted.
- Savings shall be voluntary, however all members within the group are encouraged to participate (minimum saving: GH¢3.00).
- Savings can be done weekly/monthly (or as agreed with group leader)
- Savings withdrawal can be made at the official place of meeting or at the main Jakdolph office by members in person. In case of bereavement or sickness leading to hospitalization, the member can elect their next of kin to collect such savings (Appropriate authorization from such member shall be required).This saving policy is applied to all the products under this scheme.
INDIVIDUAL/PERSONAL LOANS (IPL)
Individual/Personal loans are loans given or disbursed to those who do not belong to a group and not salary paid workers. However for reasons deemed acceptable and approved by management of Jakdolph they are able to access a loan from Jakdolph. Such persons shall be allocated this product with the aim of improving their living standards, business (trade), or social status.
a. Processing fee of 3% shall be charged on all principal funds disbursed. This is collected at the disbursement point prior to funds disbursement.
b. Interest rate applicable shall be a monthly basis, on all principal funds disbursed
c. Duration:
1st loan: 5-6 months.
2nd Loan: 5-12 months
d. Amount granted shall range GH¢500.00 to GH¢5,000.00. (Subject to needs assessment and approval by Jakdolph management)
REQUIREMENT
- Any valid national ID card is accepted for identification e.g. Voters ID card, national identification card, NHIS Card, Driver’s license, passport etc.
- 2 passport size pictures with name of applicant printed at the back (endorsed by guarantor where applicable).
- Application forms must be properly completed and signed by applicant/customer.
- For Sole Proprietor Business: AMA, BOP, INCOME TAX payment receipts, business location/situation information and assurance note of guarantor ( where applicable)
- Commit to weekly/Bi weekly or monthly repayment.
LOAN GUARANTEE
a. The borrower shall require a guarantor.
b. Guarantor must be actively working and able to provide 3 month current pay slip from his/her employers.
c. The guarantor shall fill a form and submit all document required eg photocopy of a pay slip, 2 passport photographs, house no of current residence (need to be checked Jakdolph management team)
d. Submit if sole proprietor business: AMA, BOP, Income Tax Payment Receipt, Business Location/Situation Information and assurance note of guarantor
e. NHIS/NID/VID/and passport –any one of these should be photocopied and submitted.
f. Guarantor shall be held liable to pay the total amount outstanding (i.e. principal+ interest) in case of default by borrower.
SMALL AND SPECIAL BUSINESS LOANS (SSBL)
These are loans provided to businesses or customers for on a short-term basis. Business activities’ such as: import duty payment on goods at the port, emergency business needs by customers for certain purposes (legitimate goods & services only).
All such loan shall be approved by management of Jakdolph
- Interest rates shall be competitive, negotiable and reasonable.
- Applicable rate shall be tailored to meet the needs of the customer.
Processing: The facility shall be processed within 24 hours if application is successful.
- This shall attract a 3% processing fee charged on amount/principal borrowed.
- A deposit might be needed.
- In the absence of a deposit, a collateral shall be required.
- Collateral must reflect the Fair Value of Loan/liability
- Guarantors might be required depending on the amount and applicant involved.
- Quick thorough Due diligence on applicant may be required. This shall be done based on the significance of amounts involved. (Significant amount: >= GH¢5,000.00)
REQUIREMENT
- All the requirements for product (2) shall apply, except repayment shall be agreed between Jakdolph management and applicant through a formal contractual arrangement with the inclusion of further detailed terms and conditions.
KICK START ACTIVITY LOAN (KSAL)
These are funds or loans given out to the poor and needy within the community, with minimum interest to help them start an income generating activity on their own. This is to improve and accelerate commercial activities within the community and the economic condition for the poor in society and their economic well-being.
- Interest rate shall be negotiable.
- No processing fee shall be required
- Applicant must be a resident of the community and shall endeavour to join the group system
within the community for recognition and recommendation - Amount granted shall range from GH¢50.00 to GH¢300.00. (Subject to needs assessment and
approval by management of Jakdolph) - Mode of payment: Payment shall be done weekly in instalments
Duration:
1st loan: 4-5 months compulsory
2nd loan and beyond: 3-9 months.
REQUIREMENTS
- Any valid national ID card is accepted for identification eg. Voters ID card, national identification card, NHIS Card, Driver’s license, passport etc.
- 2 passport size pictures with applicant name printed at the back and endorsed by group leader.
- Application forms must be properly completed and signed by applicant/customer.
- Commit to attend weekly meetings where repayment shall be collected.
EDUCATIONAL ASSISTANCE LOAN (EL)
This loan is tailored to meet the borrower/customer needs for their wards education or apprenticeship. This is to assist fee payment for those in the formal educational system or deposit payments towards learning a trade. The focus of this product is to help young and other talented individuals acquire the necessary skills to enhance their employment opportunities and also make them more productive within their own community and wider Society.
Jakdolph will be dedicated in identifying customer needs on education/training and fashion out innovative and tailor-made solution to meet them.
- As people centred micro-finance institution we will be faithful and reliable in the community in which we operate and commit to the general happiness of our customers (and their families) in every catchment area we operate.
- All conditions under product (4) are applicable to the educational loan facility.
SALARY WORKERS LOAN (SWL)
This product is ONLY available to Ghanaians actively employed within the formal (public or private) sector. Employer shall be a registered and reputable organisation in Ghana. Applicant shall be employed with their current employer for over six (6) months and successfully completed their probation period with their current employer.
Applicants shall be required to provide three (3) months current payslips from their employer.
- Processing fee of 2% shall be charged on all principal funds disbursed. This shall be collected at the disbursement point on the day funds are given out to the applicant.
- Interest rate shall be competitive and negotiable.
Duration:
1-6 months for loans ranging from GH¢100.00 – GH¢500.00
1-12 months for loans more than GH¢500.00 (i.e. > GH¢500.00)
- Amount granted: All funds granted shall be subject to needs assessment and approval by management of Jakdolph
- Mode of payment: Payment (post-dated cheques) shall be done monthly in equal instalments
REQUIREMENTS
- Any valid national ID card is accepted for identification eg. Voters ID card, national identification card, NHIS Card, Driver’s license, passport etc.
- 2 passport size pictures with applicant name printed at the back and endorsed by a work colleague.
- Application forms must be properly completed and signed by applicant.
Secondary Products
MICROFINANCE
This includes urban and rural lending, community owned banking, and asset development strategies.
ENTREPRENEURIAL OF ENTREPRENEURSHIP
COMMUNITY INVESTMENT
This includes urban and rural lending, community owned banking, and asset development strategies.
DYNAMIC SOCIAL NETWORK
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