The Greens' Steem Bank Loan Agreement between @thegreens and @b-naj

Loan Agreement

This is to certify that The Greens’ Steem Bank (@thegreensbank) represented by @thegreens has awarded a loan of Thirty thousand francs (30,000CFAF) to @b-naj on the interest of 10% to be repaid in one month from the date of signature of this loan agreement.

@b-naj, a reputable and active steemian has as surety, @majerius, the MOD of Steem Cameroon who has pledged to pay the loan in case of any delinquency.

@thegreens is open to further negotiations with @b-naj in case of any unforeseen issues.

To sign and approve this loan application, @b-naj will be required to comment, upvote and resteem this post whereas @majerius will be required to approve that he is a surety.

The Greens’ Steem Bank was created to ease Cameroonian steemians' Steem to BTC to CFAF (Local currency) transactions as well as reduce the cost of the transactions by 20 -25%.
The principal objectives of the bank are;

1. To ease Steem/SBD - CFAF transactions for Cameroonian Steemians
2. To reduce the Steem/SBD withdrawal cost for Cameroonian Steemians
3. To minimize the losses incurred during Steem/SBD withdrawal transactions e.g. A lot of people have made mistakes and sent SBD to Poloniex or mistakes with BTC Wallets.
4. To reduce the time taken and worries associated with completing a Steem/SBD to CFAF transaction e.g. Sometimes it takes hours or days for a BTC confirmation to be complete or there may be network issues but with the bank, once Steem/SBD is deposited, the MTN Momo is credited.
5. To reduce or stop the power down of Cameroonian steemians’ Steemit accounts via the provision of very low interest Steem loans. We believe, if we give Cameroonian steemians loans, they will reduce the rate at which they power down their accounts.
6. To give Steem trading and investment alerts to Cameroonian steemians
7. To guide and provide Cameroonian steemians with information on how they can better invest in Steem

Today, we wish to announce that we are now giving microcredits to Cameroonian Steemians that range between 5000CFAF to 50,000CFAF.

The principal goal for giving out steem loans to Cameroonian steemians is to limit/stop the powering down of accounts, as well as to support Steemians to be able to handle their financial challenges while steeming.

Loan Interest

The loan interest will be dependent on the amount of the loan, the duration of payment of the loan and the mode of payment of the loan. The interest rates will cover the loan processing fee and range between 10 – 13%.
The shorter the duration of repayment of the loan; the lesser the interest.

Loan Eligibility

1. Loans are available only for Cameroonian Steemians
2. The steemian applying for the loan must provide a surety for the loan. Surety can be a reputable steemian or a steemian who is a member of @steem-cameroon Njangi or Steem/SBD (For instance, if you wanted a cash out when steem prices were down, you could instead chose to give your Steem OR SBD as collateral and then acquire a loan while waiting for a rise in the price of Steem).
   In exceptional cases, the bank may request the keys of the steemian as surety and in this case, the Steemian must write a post about the loan in which he/she shall clearly state that he/she is handing over his/her Master Key to the bank as surety for the loan and that upon repayment of the loan, the bank will then hand back his/her master key.

Loan Application Process

To contract a loan, the steemian will need to;

1. Contact the bank via WhatsApp +237 676243136 to discuss about the loan and interest.
2. The bank will then make a Loan Agreement Contract Post and publish it online for the Steemian to sign, and resteem.
3. Once signed (approved) and resteemed, the steemian will be given the required loan amount via a Mobile Money Transfer. Bank loans will mostly be given in CFAF (Local Currency) or USD since it’s a stable local currency but paid in Steem/SBD at current exchange rates or local currency over the duration agreed by the bank and the steemian contracting the loan.

Coming up!

The Greens' Steem Bank goes international in ....

NB: 30% of the profits from The Greens' Steem Bank are used to promote environmentalism in Cameroon, 50% of the profits are used to power-up and sponsor @thegreens' Contests, and 20% of the profits are used for the bank

Now is the best time to invest in Steem!

CC:
@saxopedia
@fombae

The Greens is a grassroots environmental organization that strives to educate, inspire and engage young people to take action to combat climate change and be at the forefront of biodiversity conservation and waste management.