What is emergency loan gives in sacco
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An emergency loan provided by a SACCO (Savings and Credit Cooperative Organization) is a type of loan that is offered to members in times of urgent need or unexpected financial situation. These loans are designed to provide quick access to funds to help members cover emergency expenses such as medical bills, home repairs, or unexpected car repairs. Emergency loans from a SACCO typically have a fast processing time and may have special terms and conditions compared to other types of loans offered by the organization. Members may be required to provide proof of the emergency situation in order to qualify for the loan.