Westmoreland - Loans Requirement

Loan Requirements generally are as follows:

- Savings with the Westmoreland CDF of at least a quarter of the loan amount.

- 2 Passport Pictures certified by Justice of the Peace/Minister of Religion

- 2 Character References

- Membership fee and shares ($700)

- TRN

- Collateral to cover 75% of the loan amount

- Cosigner required for first time borrowers (Cosigner must be or become members, supply two certified passport pictures and TRN)

- Business records (eg. Financial statements or sales , purchase receipts)

- 5% processing fee (paid at time of loan disbursement to cover legal fees)