Browsing by Author "Sarfo, Joyce"

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    Assessing the effectiveness of the credit appraisal system at First Allied Savings and Loans Limited
    (JULY, 2015.) Sarfo, Joyce
    This study assesses the Effectiveness of the Credit Appraisal System at First Allied Savings and Loans Limited. Questionnaires were administered to fifty clients of First Allied Savings and Loans Co. Ltd. The Loan Officer of First Allied Savings and Loans ltd was also interviewed. The findings from the research indicated that the credit appraisal system of First Allied savings and loans ltd has resulted in a healthy loan portfolio for First Allied savings and loans ltd in the sense that the credit appraisal system has help them to be fast in processing a loan application resulting in an average loan processing time of 24 hours. The findings also revealed that the credit appraisal system used by First Allied savings and loans ltd has help it to reduce the rate of non-repayment of loans given out to customers. The research findings indicated that one of the challenges that First Allied savings and loans ltd usually face in implementing its credit appraisal system is lack of adequate information. The research findings showed that the credit facilities that are provided by First Allied savings and loans ltd to its customers are Term loans, Overdraft facilities and Personal loans. The analysis also indicated that First Allied savings and loans ltd usually demand for more collateral security from its clients during a loan application process compared to other savings and loans companies. The findings also showed that the interest rates and fees usually charge by First Allied savings and loans ltd is high when compared to other Savings and loans companies. It was also noted from the analysis that the credit period usually granted by First Allied savings and loans ltd to its customers to repay loans given to them is the same as that usually granted by other Savings and loans companies.