LOAN PROCESS
ONBOARDING
- Client query (walk in and self-mobilized) registered.
- Requirements briefing and handover of requirements handout (standardized).
- Loan application received with all requirements. Application registered.
- Assigned Loan Officer receives loan application.
- Loan assessment (business plus home) and training (Group and Individual Loan).
- Loan Officer submits file to Area Supervisor.
APPROVAL PROCESS
- Area Supervisor (ASPV) checks the file and assesses the clients (including conducting Group Recognition Test (GRT) for groups).
- ASPV sends file to Credit and Risk for credit and risk assessment.
- Credit and Risk checks the file and notes observations and sends back to ASPV.
- ASPV and Loan Officer (LO) work on the observations and report back to credit.
- Credit Analyst arranges Risk & Compliance Committee (RCOC) meeting in consultation with Regional Manager (RM). Notice of RCOC meeting is sent to ASPVs.
- RCOC considers the file and makes a decision and communicates to ASPV.
- ASPV and LO advises client of approval and prepares Loan Offer and Loan Agreement.
- LO presents Loan Offer and Loan Agreement to clients for signing. Once signed and Security perfected, they are advised to deposit fees.
- File is then presented to Data Entry Clerk at the branch for creation in the system.
DISBURSEMENT BACKOFFICE
- LO prepares transfer sheet and submits to ASPV together with copy of fees deposit slip and account verification slip.
- ASPV checks transfer sheet info in the system and prepares disbursement request to present to RM.
- RM checks transfer sheet and signs disbursement request memo.
- Finance Officer (FO) submits transfer sheet to Head office (HO) Data Processing Unit (DPU).
- HO DPU verifies and gets the transfer sheet authorized by Credit Manager (CM) or Operations Manager (OM) then forwards to HO Finance.
- Head Office Finance transfers funds to client account and notifies Region and ASPVs.
POST DISBURSEMENT
- LO notifies Client/Group/Cooperative.
- LO gives Loan repayment schedule.
- Client collects funds from Bank. If group LO attends funds distribution to ensure compliance.
- Monthly repayment meetings for groups and monthly monitoring (Repayment on Due Date).
- Pre-closure Disbursement-back-to-back disbursement processing starts before end of loan term.
- New application processing or Loan Recovery.
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