May 29, 2021
Now that loan guarantors are responsible for guarantee payments for all loans taken within three months of the guarantee, we have received many requests from guarantors to no longer be responsible for guaranteed members who have not repaid early loans reliably.
To accommodate these situations, we have added a new option for guarantors to cancel guarantees once the current loan is repaid, even if the three-month guarantee period is not yet passed. This option may be chosen at any time between disbursement of the first guaranteed loan and the repayment of loans taken during the three-month period when the guarantor is responsible for repayments, using the "Request Cancelation Once Loan Is Repaid" button next to the guarantee in the Guarantor Program screen.
If this option is chosen, the guarantor is still responsible for the member's current outstanding loan, but once the loan is fully repaid the guarantor is removed from responsibility. Any guarantee bonus is canceled, and the guaranteed member's credit limit is reduced to what it was before the guarantee was awarded (or to the first loan credit limit for non-guaranteed members, if the guarantee was the member's first loan).
Since this option reduces the guaranteed member's credit limit, we recommend using it only in situations when you feel you made a mistake or the member is likely to default. Otherwise, we recommend waiting for the three-month guarantor period to pass, at which point the guarantor is no longer responsible for the guaranteed member's repayments, and the guaranteed member keeps the high credit limits earned during the guarantee period.
Prince Arhin, Veronica Phiri, Jamiu Raji Adegoke, Cynthia Nyankibi, Ivy Kumesi, Joshua Aborku and Ababio Seth like this.
Sep 10, 2021
Could you kindly delete my account for me. Zidisha has been very supportive I helping me grow and I a fine now. Trying to avoid loans
Sep 18, 2021
Hi there it would not be a good advice to eliminate yourself from Zidisha. Why am I saying this? You would not know when that urgent need might arise. So I entreat you to reconsider your decision.
Sep 17, 2021
Madam Julia, thanks for all your support in my business all this time,even during my hard time zidisha was there to support me till I passed through the time,but i need my loan limit to be increased so as to help my business to rise up more and more again, though I made a late repayment in my last loan that I don't use to do but now with the level of my business I need more money to raise my business again .Please help me. Thanks
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