Overseeing Golden top projects

 

1.Introduction.
This procedure is to help oversee the projects that the group is undertaking any challenges that are facing and if the group is growing .The company give loans to the group  to fund their projects and the group is expected to pay back the loans at 4% interest.

2.Chicken Project
In this project, the members involves them in rearing layer chicken for egg production. These
products are sold to the local market both in retail and wholesale. Initiative Kenya began working
with the women group consisting of 15 active women members in the year 2012 purchasing 500
egg laying chicks. The group to date are able to supply more than 400 trays of eggs per week to
Mombasa hotels and the proceeds from the sales goes to pay salaries to members, employees
and also run a college the group operate. The goal of the group is to be able to supply over 1000
trays of eggs per week within Kenyan towns.

3.Conditions for Follow Up of the project
>The group should report to us immediately in case of any chicken diseases.
>The group should never sell chicken without Tradestar approval
>Sales of old chicken should pay up loan first before purchasing of new chicks
>The group should be checked twice a month i.e. ground visits to the projects
>The company will also help the group in sourcing the market for their chickens and eggs.
>For follow up , statistics of the sales should be recorded so that we know if the group is able to pay loans and for see if they need more loans
>There is also a programme where all this statistics is kept for easier follow up and maintaining the records of the group

4.Loan repayment
>The loan should be paid monthly at an interest rate of 4%
>The group is entitled  to pay Ksh 9000 every month.
> The loan should be paid in a span of 24 months as per the  loan agreement
> The payment should be banked to Tradestar Kenya Ltd account in Ecobank Kenya A/c No. 0630150143244 and a copy of the bank deposit slip be availed by the Golden top SHG to Tradestar Kenya Ltd offices where it is filed. Notify Albert/Kisuk on the same day payment is made
> The amount paid should then be indicated on the Golden Top Loan Summary excel sheet (This is an excel sheet that indicates amount of loan given and how much it should be paid so far)
>For each payment done a receipt should be issued by John
>Payment slip should be filled and the amount paid booked against corresponding cost heading loan.

 

4.1 Loan Default
> First time default by the organization should be called/sms or emailed a warning letter regarding the default
> If loan defaulting continues for the second week, notify Kisuk  a 10% interest should be included to the weekly loan amount payable and the same communicated to the organization
> If organization fails to remit loan amount further and amount defaulted accumulates to > KES 10,000, notify Kisuk and guidance on further actions will be issued
>Incase of defaults  advice Kisuk against any more loan disbursement to the group