MICRO-INDUSTRY LOAN

TARGET MARKET

• Individual men who have acquired skills from different institutions and programs such as TEVETA, Colleges and technical school, Government internship..

OBJECTIVES

• To contribute to the creation of jobs to idle skilled graduates.
• Encourage entrepreneurial partnership.

CUSTOMER BENEFITS

• Access capital for establishing business.
• Get self-employed and employ others.

REQUIREMENTS

• National ID
• Color passport-size photos
• Partnership Deed
• Business Registration Certificate
• Personal Guarantor
• Guardians’ consent for collateral and loan
• Letter from local leader
• Sketch map to residence or place of business
• Certificate of competence for the skills professed

THRESHOLD

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

TENURE

• Loan Duration: 6 to 24 months
• Minimum Grace Period: 1 month may be granted

RATES/TARIFFS

• Interest: 4.8%
• Processing Admin Fee: 4.5%

COLLATERAL REQUIREMENTS

• Personal guarantor
• Institution guarantor (e.g., TEVETA, SMEDI, or other where possible)
• Equipment
• Association guarantee (where applicable)