Frequently asked questions
Is G4G a bank?
No. G4G is a cooperative society, not a licensed financial institution. Your money is a member's contribution with the cooperative — it is not a deposit with a licensed institution and is not covered by any statutory protection scheme. Our safeguards are our written policies, our reserves, and our append-only ledger.
How much can I borrow?
Up to 150% of your total contributions, capped so that no single member holds more than half of the lending pool. The exact figure is computed live and shown to you before you apply. Member loans are 5% simple interest per month on a 3-month term.
How do I earn from the cooperative?
70% of all loan interest collected each month is shared among all members in proportion to their contribution balances — Founders and New Partners alike, at the same rate per naira. Your share is worked out monthly and credited to you as soon as it is earned, so you can watch it building in your portal. It is held as dividends, separately from your savings, and becomes available to withdraw at the end of the quarter after the one it was earned in — interest earned between January and March, for example, becomes available at the end of June. The wait is deliberate: it keeps enough cash in the fund to meet loans and withdrawals without disturbing the reserve.
What happens if a borrower does not pay?
Interest unpaid 15 days past its due date puts the loan in default and freezes the borrower's membership — no new loans until the arrears are cleared. Because at most 70% of the fund is ever lent and every loan is capped against the borrower's own contributions, one default cannot sink the cooperative.