Description

Do you desire a smarter, secured, and affordable way to save, invest and earn good returns to achieve your goals and fulfill your dreams? Join Flapcoop today!

Flap Multipurpose Cooperative Society Limited is licensed by the Lagos State Ministry of commerce, trade, and cooperatives.

At Flapcoop, you get easy access to a loan by first joining a cooperative thatinvests in Real Estate Projects (residential, Commercial, Agricultural, and Industrial estate developments) and sell to earn good returns for our co-operators.

 

SERVICES

Target Savings: Not everyone has cultivated the habit to save but we encourage our members to save towards achieving their goals. Our cooperative has provided a suitable means to make savings easier and interesting by giving our members good returns during and after saving.

Note: It’s not advisable to withdraw from your savings account until end of tenure e.g 6monthd/12months except in rear cases.

Personal or Business Loan: The surest way to secure a loan at Flapcoop is by becoming a member and only members are entitled to loans, either for business or personal. We have structured ways to allow members borrow 5 times the amount they have saved. They only have one requirement to meet and be able to convince us with workable means of paying back their loans.

You start a membership plan – Refer minimum of 5 persons – Request a loan

Note: Your savings account is different from your loan account

Education Finance: This caters for members that need finance to sponsor their children’s school fees. This category of Co-operator must have saved up to 12 months. With this they receive 30% interest of amount saved to cover education expenses per annum. Tenor and conditions of academic loans vary on individual basis which is dependent on the membership duration.

Rent Finance: The wellbeing of our members is also keen to us as a society. With this we have made provision for rent financing opportunities for our members who can demonstrate that they have sure means of paying back within a very short period. This is a shorter duration of our regular loan at Flapcoop and members who request for rent must have saved a half amount of their requested rent as a Co-operator.

LPO or Project Finance: Businesses need funds to grow and succeed. We would like to associate with the prospect of our members when they need urgent funds to execute contract. We finance Local Purchase Orders and Supply on behalf of our members at a fair rate subject to a maximum tenor of three (3) months.

Equipment and Lease Finance: Members can also access loans to buy home or office equipment or automobile of their choice with only 20% initial down payment. Repayment spread up to 2 years. Comprehensive insurance shall be shared by both the co-operative and the borrower.

To access this loan one must have being a member of the cooperative for at least six months and one must have paid up his share capital contribution and at least one-month savings.

Bulk Purchase: At Flapcoop, we recognize everyday living expenses as a factor affecting financial freedom and the success of entrepreneurship. We are therefore committed to being a part of our members’ daily life. Our society operates a ‘members only’ warehouse for the supply of daily needs for children and adults.

We acquire a variety of food items and daily need products for direct supply to members at very large discounts. As a cooperative we enjoy the benefit of bargain purchases with several manufacturers who will deliver their products at reduced rates. This bulk-buying system will ensure 90% of our products have discounts available only to members at prices unavailable elsewhere, which will as a result free up funds for members savings. We shall also take advantage of manufacturers financing…