ANALYSIS OF THE PROBLEMS ASSOCIATED WITH BUSINESS LOAN REPAYMENT IN INVESTMENT AND CREDIT COOPERATIVE SOCIERTIES (A STUDY OF COLLEGE OF ADMINISTRATIVE AND BUSINESS STUDIES COOPERATIVE INVESTMENT AND CREDIT COOPERATIVE SOCIETIES LIMITED (CABSCICS LTD.))
Abstract
This study examines the problems associated with business loan repayment in investment and credit cooperative societies, with particular reference to the College of Administrative and Business Studies Cooperative Investment and Credit Cooperative Societies Limited (CABSCICS Ltd.). The research was conducted to identify the major factors influencing loan default among members and to evaluate the effectiveness of existing loan recovery mechanisms within the cooperative.
A descriptive research design was adopted, and data were collected through questionnaires and interviews administered to selected members of the cooperative society. The findings revealed that several factors contribute to loan repayment challenges, including low business profitability, high interest rates, poor financial management, inadequate monitoring of loan utilization, and unforeseen economic conditions
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