Business Loans

The Volta Lake Co-operative Credit Union loans are designed to meet the needs of our members. Our loans are designed for members that need to access funds to finance building, home improvement projects, businesses, funeral, medical, and other items. Our loans are also available for purposes such as personal or business travel, education expenses, medical expenses, debt consolidation and more.

You can save while servicing your loan. You can borrow an agreed amount for a future investment and use the deposited funds as security for the loan. Our loans are offered repayment on the straight line (flat) basis. As your outstanding balance decreases, you can access additional funds up to your maximum limit.

Loan Multiplier: A member can access 3.00 times (3x) his or her accumulated savings as loans subject to his or her repayment ability.

Concurrent Loans: Members could apply for new loans whiles servicing the old loan.

Maximum Repayment Period: Up to sixty (60) months for maximum flexibility.

3x Savings Multiplier

60 Max Months Repayment

48hrs Fast Disbursement

Our Business Loan solutions are tailored to meet the diverse financial needs of entrepreneurs, SMEs, and established enterprises. Whether you're expanding operations, investing in equipment, or managing working capital, our loans offer a reliable and adaptable pathway to success.

Why Choose our Business Loans?

Flexible Loan Amounts

Scaled to match your business ambitions

Variety of Loan Types

Choose from options suited to your specific goals

Competitive Interest Rates

Designed to support profitability and sustainability

Flexible Repayment Terms

Structured to align with your cash flow cycles

Application Requirements

To access a Business Loans, applicants must provide:

A valid Ghana Card
Business Plan
Recent Financial Statements
Documented Credit History
Up-to-date Bank Statements

Policy on Loan Top-Up, Refinancing, and Rescheduling

In recognition of members' evolving financial needs and the importance of responsible credit management, the Loans Committee/Board affirms the following guidelines regarding loan top-ups, refinancing, and rescheduling:

1 Loan Refinancing

A member may be considered for loan refinancing provided they have repaid at least 60% of their existing loan and demonstrate capacity to repay the new facility. In such cases, the outstanding balance of the existing loan, together with one month's interest, shall be deducted from the amount of the new loan being applied for.

2 Loan Top-Up

A member may be eligible for a loan top-up upon repayment of at least 50% of their current loan. The remaining balance of the existing loan, combined with the additional amount requested, shall be treated as a new loan and processed accordingly.

3 Loan Rescheduling

The Loans Committee/Board reserves the discretion to reschedule a member's loan repayment terms if such an adjustment is deemed necessary and in the best interest of both the member and the institution.

Ready to Apply for Your Loan?

Take the next step towards achieving your financial goals with our flexible loan solutions designed specifically for our valued members.