There's this lending agency which also functions as a cooperative in my local community. First, you open an account and deposit a certain amount with them then after a month you can start borrowing money up to double the value of the amount you deposited as a maximum. Payment term can be up to 18 months. Then after you pay your first borrowed sum you can then borrow up to triple your deposited amount. While you borrow, your deposited money also earns dividends each month so it's sort of a savings account in itself. I'm not yet a member but my parents are but I'm planning to join them soon. Do you also have similar lending institutions in your area? What are your experiences with them?