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on Pralarg International Multi-Purpose Cooperative Society.
What types of loans are available?
Common types include Regular loans, School Fee loans, Business Loans, Welfare loans, Emergency loans.
What is the required initial deposit to become a member?
The initial financial requirements are as follows: • ₦5,000 — Lifetime Membership Fee • ₦1,000 — Development Fee • ₦1,000 — Administrative Fee • ₦10,000 — Share Capital • Minimum of ₦1,000 — Initial savings credit to activate your account
Is the cooperative limited to members at the Ogun State headquarters before extending to other states?
No. Membership of the cooperative is open to all Pralarg International members nationwide, regardless of their state or location.
How long must I save before becoming eligible for a loan?
Members must complete six (6) months of continuous savings to qualify for loan consideration.
How many guarantors are required when applying for a loan?
The number of guarantors required depends on the amount of loan requested. Generally, between two (2) and five (5) guarantors may be required
Can I present guarantors who are not members of the cooperative?
No. All guarantors must be registered members of the cooperative.
