Products JORBIES

JORBIES LIMITED has targeted small scale or low income earners such as drivers in unionized organizations (e.g. GPRTU of TUC, PROTOA, PEACE CO-OPERATIVES etc.), Chop Bar operators, petty traders etc who have been neglected by the traditional banks. Jorbies has put these credit worthy individuals into a pull who can access short term loans

Loans are initially given to these target groups and they in turn pay back daily in a form of ‘susu’ contributions. This relieves them of the hustle they go through in getting their start-up capitals for their businesses or revamping of old business.
Also, such moneys advanced are used by them to buy engines for their cars, pay school fees for their wards, set up businesses for their spouses, purchase housing and home appliances they have longed to acquire etc. Under this scheme, JORBIES also purchases cars for the union itself or the individual drivers who have proved loyalty and integrity towards the servicing of their initially advanced loans or moneys.

The rental price of any advancement is spread equally for the duration of the facility. Hence, customers do not feel the repayment of the moneys – principal and interest
This scheme is structured in two parts.
SCHEME ONE
FAST LOANS - Happy Urself (“enige nkoa” or misee son”)
This is designed for clients or staff who cannot wait for a few weeks or days due to a sudden incident. Tangible reasons and or ability to pay i.e credit worthiness are the requirements for granting this loan facility. These customers are screened under the 8Cs model and JORBIES appraisal’s code-named COMPARI

Such customers do not have to be delayed because of the pervasive nature of their needs. Hence, after providing the necessary collateral and haven completed the necessary documentations and procedures - they are given the loan.
Loans under this scheme can be paid daily, weekly or monthly or any other way as per the customer’s decision.

An extra charge is placed on the interest to serve as a security and cost on capital for not waiting – premium charges. However, the interest drops or reduces when such a customer complete payment and applies for another loan.

A special scheme under this category has been created for MBA students and other salary workers who are given the opportunity to access loans in 10 minutes.

Scheme two is based on the fact that clients have to do some initial deposit(s) or make susu contributions for some time – at least three months (3Months) in order to enjoy this loan. A minimum contribution of Gh¢5.00 is acceptable. Contributors are given a loan as much as triple the amount in their investments which would be used as collateral for the loan granted.

Customers under “slow but sure” (“kakra kankra” or “Fio-Fio”) also go through an assessment process not as rigid as “happy urself” but robust enough to know that the 5Cs of the customers’ need are satisfied accordingly.