Shagun Micro Finance Association

Loan can be applied after 6 months of account opening.
Must be a regular account.
Multiple accounts can be clubbed but recovery will be done seperately for each account.

One person can be guarantor in multiple loan subject to emi amount of all loans not exceeding his monthly income.
In case of default loans the guarantor will be liable for the recovery.
One person can apply for second loan after settlement of first loan.
Loan will be disbursed after deduction of file charges.
Person having un-settled loan cannot be a guarantor.
Any loan guaranted by this guarantor should not be default.
If any person applies for 2nd loan after sucessfully completing of 1st loan,No File Charge will be taken,only 2% Processing fee is applicable