COOPERATIVES LOAN
INDIVIDUAL LOAN
TARGET MARKET
- Cooperative in Agriculture, wholesale or retail trade, Mining, Financial services and any emerging sectors. thus production, marketing and value addition.
OBJECTIVES
- To contribute to the creation of jobs to idle cooperative members.
- To contribute to the operationalization of the cooperatives development policy by addressing the challenge of lack of access to credit finance.
CUSTOMER BENEFITS
- Access to capital
- Boost business both existing and start-ups.
REQUIREMENTS
- Cooperative certificate from Government
- Rules of engagement or constitution.
- National IDs for all paid up members (subscribers)
- Sketch map to collective enterprise
- Sketch of map to residences of the executive committee of the cooperative.
- Colour group photo
- Association Registration certificate where applicable
- Letter of Identification from any primary cooperative to which applicant is affiliated.
- Title documents to assets.
THRESHOLD
- First time borrower 30,000,001 to Mwk 50,000,000.00
- Second time borrower Mwk 50,000,001.00 to Mwk 100,000,000.00
- Third time borrower Mwk 100,000,001.00 to Mwk 250,000,000.00
TENURE
- 3 to 36 Months
- Minimum grace period of 1 month may be granted.
RATES/TARIFFS
- Interest rates – 5.2%
- Processing and Admin fee – 5.0%
COLLATERAL REQUIREMENTS
- Landed property
- Machinery
- Equipment
OPENING HOURS
MONDAY – FRIDAY
7:30 AM – 4:30 PM
CONTACT US
NATIONAL ECONOMIC EMPOWERMENT FUND
P.O BOX 779, LILONGWE
PHONE # : +265 999 941 333 | +265 999 938 333
EMAIL: info@neef.mw