Loan Agreement

This is to certify that The Greens’ Steem Bank represented by @thegreens has awarded a loan of Twenty thousand francs (20,000CFAF) to @rapharchick on an interest of 10% to be repaid in one month from the date of signature of this loan agreement.

@rapharchick has agreed that his Cameroon Steemit Njangi with @steem-cameroon will serve as surety for his loan and that in case of failure to repay his loan, his njangi will be sued to pay his loan, interest and delinquent interest.

@thegreens is open to further negotiations with @rapharchick in case of any unforeseen issues.

To sign an approve this loan application, @rapharchick will be required to comment, upvote and resteem this post.

The Greens' Steem Bank

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 -50%.
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

Steemit Loans.

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 any @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 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 resteemed, the steemian will be given the required loan amount. Bank loans will mostly be given in CFAF (Local Currency) or USD since it’s a stable local currency but paid in Steem at current exchange rates or local currency over the duration agreed by the bank and the steemian contracting the loan.

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.