EQx Co-operative Membership Loan
Equity Pact : South Africa
The Co-operative Membership Loan is offered to prospective members that can’t afford the R10,000 upfront cost of one co-op share. The interest rate is on the loan is an effective 18.1%. The capital used for an EQx Development Co-operative membership loan is from the co-ops own members. Members effectively ‘loan’ money to their EQx Development Co-operatives at a fixed rate of 1% per month when they purchase EQx tokens.
N.B. Interest is paid out in EQx tokens on the previous month end balance. Also, a members interest earning EQx balance does not include the co-op share value which reflects as an EQx balance in the account of an EQx Development Co-operative.
The Payment Schedule
| No. | Payment Amount | Interest Amount | Capital Reduction | Balance Due |
| 1 | R 500 | R 151 | R 349 | R 9,651 |
| 2 | R 500 | R 146 | R 354 | R 9,297 |
| 3 | R 500 | R 141 | R 359 | R 8,938 |
| 4 | R 500 | R 135 | R 365 | R 8,573 |
| 5 | R 500 | R 130 | R 370 | R 8,203 |
| 6 | R 500 | R 124 | R 376 | R 7,827 |
| 7 | R 500 | R 118 | R 382 | R 7,446 |
| 8 | R 500 | R 113 | R 387 | R 7,058 |
| 9 | R 500 | R 107 | R 393 | R 6,665 |
| 10 | R 500 | R 101 | R 399 | R 6,266 |
| 11 | R 500 | R 95 | R 405 | R 5,861 |
| 12 | R 500 | R 89 | R 411 | R 5,449 |
| 13 | R 500 | R 82 | R 418 | R 5,032 |
| 14 | R 500 | R 76 | R 424 | R 4,608 |
| 15 | R 500 | R 70 | R 430 | R 4,178 |
| 16 | R 500 | R 63 | R 437 | R 3,741 |
| 17 | R 500 | R 57 | R 443 | R 3,298 |
| 18 | R 500 | R 50 | R 450 | R 2,847 |
| 19 | R 500 | R 43 | R 457 | R 2,390 |
| 20 | R 500 | R 36 | R 464 | R 1,927 |
| 21 | R 500 | R 29 | R 471 | R 1,456 |
| 22 | R 500 | R 22 | R 478 | R 978 |
| 23 | R 500 | R 15 | R 485 | R 493 |
| 24 | R 500 | R 7 | R 493 | R 0 |