General Working Capital Loans

TARGET MARKET

• Individual, partnerships or private limited companies requiring to finance short term contracts and orders for supply of goods and services.

OBJECTIVES

• Providing capacity to MSME enterprises to grow business ventures.

CUSTOMER BENEFITS

• Build capacity to supply on large contracts, thus grow into large enterprises..

REQUIREMENTS

• National IDs
• Business Registration certificates
• Guarantor letter and ID
• Proof of residence – Sketch Map
• Passport-size photo
• Physical collateral (may align concurrent with execution of contract)
• Valid/authenticated purchase order/contract

THRESHOLD

• Mwk 3,000,000.00 to Mwk 30,000,000.00.

TENURE

• 1 to 12 months
• As loan repayment is usually by bullet payment, grace period in not applicable

RATES/TARIFFS

• Interest rates – 6.0%
• Processing and Administration fees – 10.0%/li>
• Insurance – 1.0%/li>

COLLATERAL REQUIREMENTS

• Cessation of contract or order proceeds Agreement
• Physical collateral in form of land, vehicles or, and more desirable surveyed land.