Cooperative Societies Funding Methodology
Foundations and Controls for Financing Associations / Federations and Unions:
- Registration certificate according to the law.
- To have a membership record approved by the Registrar of Associations / Unions and Trade Unions.
- The association should have experience, if any, and practical, financial and accounting practices.
- Agreeing to secure the project comprehensively and to be parallel to the implementation.
Required Documents:
- Funding application signed by the beneficiary (with the signatures of the three officers) stating the purpose and amount required for financing and stamped with the seal of the association
- A copy of the valid ID for the three officers (national card/passport/driver’s license/military card) + national number.
- A recent photo of the three officers.
- Accommodation certificate for the three officers.
- Association registration certificate approved by the association registrar.
- The statute and regulations are approved by the Registrar of Societies.
- The authorization of the association’s members to the three officers to take the funding is stamped with the association’s seal.
- Membership statement stamped and approved by the association registrar.
- A list of the members of the Board of Directors or the Executive Office indicating the president, secretary and treasurer, and approved by the Registrar.
- An economic feasibility study for the required project.
- Certificate of practicing an activity in the case of a project other than the association's activity.
- An initial invoice in favor of Erada Microfinance Company, to be renewed upon execution.
- A copy of the lease contract, ownership certificate or possession certificate approved by an official authority.
- Insurance request (upon execution).
