Business
Loans

BUSINESS LOAN CHECKLIST* 

(Approved collateral: motor vehicle, property, CSV on insurance policy, stocks/bonds) 

•  Financials prepared by a Certified Chartered Accountant & stamped 
• • Income & Expenditure Statement ( minimum 2 years) 
  • Balance Sheet 
  • Cash Flow Statement and Cash Flow projections (for at least three years) 
  • Print out of savings/current account transactions for at least 12 months OR updated bank book 
  • Aged receivables ( where applicable) 
•  Documentation to support loan purpose 
•  Business plan 
•  Business registration certificate & Articles of Association (if applicable) 
•  Letter of Good Standing (obtained from the Office of the Registrar of Companies 
• TCC
•  Completed Application Form with contact information of two relatives & two references (non-related)  

• • Tax Registration Number (TRN) Card [ business & individual] & Valid ID (Driver’s License, Voter’s ID, COK ID) 
  • Qualifying Shares
  • Passport size photograph
  • Recent utility or any other bill in member’s name with current address (Proof of Address)
  •  Assignment of life insurance policy (if required)

Guarantor (if applicable) 

1.  IF SELF-EMPLOYED: Financials prepared by a Certified Chartered Accountant & stamped 
   • Income & Expenditure Statement
   • Balance Sheet
   • Cash Flow Statement and Cash Flow projections (for at least three years)
   • Credit reference
   • Print out of savings/current account transactions for at least 12 months OR updated bank book
2.  Tax Registration Number (TRN) Card [ business & individual] & Valid ID (Driver’s License, Voter’s ID, COK 
3. ID) Passport size photograph
4. Signed guarantor form witnessed by a Justice of the Peace
5.  Recent utility or any other bill in guarantor’s name with current address (Proof of Address)

*CONDITIONS APPLY

ONE STOP MICRO LOAN CHECKLIST* 

• Applicants must be permanently employed to a company on the approved COK Sodality listing and be confirmed in the position for at least 1 year 
• Repayment amount or full salary via salary deduction only 
• Job Letter stating salary, position, length of employment; plus last two months pay slips 
• Tax Registration Number (TRN) Card and Valid ID (Driver’s License, Voter’s ID, COK ID) 
• Passport size photograph 
• Completed One Stop Loan application form with contact information of Relative not living with member and an external reference (non co-worker) 
• Recent utility or any other bill in member’s name with current address (Proof of Address) 
• Qualifying shares – minimum of $5,000 
• Upfront Payment – minimum 1 month 
• Guarantor required under certain conditions* 

 Guarantor 

• Job Letter stating salary, position, length of employment; plus last two months pays slips 
• Tax Registration Number (TRN) Card and Valid ID (Driver’s Licence, Voter’s ID, COK ID) 
• Passport size photograph 
• Signed guarantor form witnessed by a Justice of the Peace 
• Recent utility or any other bill in guarantor’s name with current address (Proof of Address)

MICRO LOAN APPLICATION CHECKLIST

• Maximum Loan – $1,000,000.00 (First time borrowers without credit history or collateral not exceeding $500,000.00)
• Must be a COK member
• Preferably member’s should own the business & be in operation for at least one (1) year. Startups are assessed on a case by case basis.
• If business is registered, a copy of the business Name Certificate is required

• Relevant licences and permits applicable to business activity (e.g. Food Handler’s Permit, Spirit Licence, Transport Authority Permit)
• Valid ID (Driver’s License, Voter’s ID, Passport, COK ID) and Tax Registration

Number (TRN) card

• Two (2) Passport size photograph pictures
• Two references (J.P., Minister of Religion, Principal, Lawyer, Police Officer of Gazzetted Rank (Inspector and above), Employer (HR Department or Immediate Supervisor
• Qualifying Shares – 20% of Loan amount & applicable Processing Fees
• Letter &/or invoice supporting purpose of loan
• Completed Sales & Purchase form/Product Sampling form or cash flow projection
• Completion of Business and Residential Inspection Form along with photographs of the operation
• Proof of Address ( e.g. recent utility bill, letter from JP, postmarked correspondences, site visit from Credit Union Officer) – Only site visit required for repeat members

New Borrowers – Statement of account on existing or previous loans with COK or other financial institutions

NB: References must be addressed to COK Sodality Credit Union —-66 Slipe Road, Kingston 5.