Co-op Bank unveils loan to fund access to safe water and sanitation
The Co-op-a-maji loan provides financing for solar water pumps, solar water heating systems, and installation, all designed to facilitate reliable access to water using clean, renewable energy
Co-op Bank has launched a new Co-op-a-maji loan to support businesses in the water, sanitation and hygiene (WASH) sector.
The loan unveiled in partnership with Water.org is in line with the lender’s environmental, social and governance (ESG) focus, enabling communities access safe water and sanitation.
“The facility targets individuals, water bottlers & distillers, licensed borehole drilling companies, water service providers, manufacturers and distributors of water harvesting equipment,” Co-op Bank Group Managing Director Dr Gideon Muriuki said.
The loan is available to individuals, Micro, Small and Medium Enterprises (MSMEs) and institutions enabling them to acquire smart meter, solar water pumps, solar heating systems and installation, water bowsers or exhausters, water tanks, water purification systems, household and office water connection , bio-digesters, boreholes, waste water treatments, among others.
Businesses within the WASH sector can also use the loan to grow their business such as water bottlers and distillers, licensed borehole drilling companies, water service providers, manufacturers and distributors of water harvesting equipment such as water tanks, pipes, gutters, plumbing equipment and related items and contractors of water and sanitation services.
For those seeking to buy a water tank, Co-op Bank offers up to 100 per cent financing with a flexible loan tenure, faster loan processing, unsecured limits available to clients fully banking with the bank and a dedicated relationship manager.
The Co-op-a-maji loan also provides financing for solar water pumps, solar water heating systems, and installation, all designed to facilitate reliable access to water using clean, renewable energy.
The loan is available to individuals , MSMEs and institutions with up to 100 per cent financing under working capital operational expense/stock financing, flexible loan repayment period and faster loan processing. No additional collateral is required.
In addition, it also provides financing to ensure access to essential water and sanitation services for individuals , MSMEs and institutions with up to 100 per cent financing under working capital operational expense, flexible loan repayment tenure, unsecured limits for Co-op Bank customers and faster loan processing.
What is more, the loan is also available for those looking to own an exhauster truck or water bowser in order to facilitate access to water and increase sanitation solutions.
The product features 80 per cent financing, a flexible loan repayment of up to 72 months, additional financing for working capital, faster loan processing, convenient collection solutions and arranged insurance solutions. No additional collateral is required.
The facility is also available for those seeking to upgrade to a smart meter in order to control of their energy usage and save on bills.
The Co-op-a-maji loan provides up to 100 per cent financing with clients fully banking with the bank able to access unsecured limits.
