Transcript
Joy: Welcome back to the Wakandi Academy. I'm Joy, with James. Last time we closed a door — today we open one: letting members guarantee each other's loans. James, why open it?
James: Because for many members, their own savings aren't enough security for the loan they genuinely need. A member with two guarantors standing behind them can borrow beyond their own balance — and the group's trust does the underwriting. It's the oldest idea in the SACCO movement.
Joy: So what do we change in CAMS?
James: Two fields, same place. Open Settings, then Products — you land on the Loan Product list. Find your product, open it, click Edit, and scroll to Guarantors and Collateral. First, change Guarantors from Self to Self, Member. Second, set the Minimum Number Of Guarantors — say, two.
Joy: Minimum. So a loan can have more than two?
James: More, yes. Fewer, no. The number you set is the floor every new loan from this product must meet.
Joy: And who actually attaches the guarantors to a loan?
James: Your loan officers, on each loan's Guarantors tab, as applications come in. The product setting is the rule; the tab is where the rule is met, member by member, each with their percentage of the guarantee.
Joy: Any practical trap?
James: One that catches people. If the product blocks a guarantor's funds, that member's account needs enough money in it for the block to go through. A willing guarantor with an empty account can't be added — check balances before the committee meeting, not during it.
Joy: What about loans already running?
James: Untouched. The setting shapes new loans only. Existing loans keep whatever guarantee they were built on.
Joy: Open the door, set the floor, mind the balances. Thanks, James.
James: Anytime, Joy.