MEN ENTERPRISE LOAN
INDIVIDUAL LOAN
TARGET MARKET
- Individual men aged above 35 – 75 years who want to venture into a business or are already in a business.
OBJECTIVES
- Socio-economic empowerment of the women.
CUSTOMER BENEFITS
- Access start-up capital
REQUIREMENTS
- National IDs
- Business profile for existing enterprises/business plans for start-ups.
- Bank Statement for existing business.
- Identification letter from village Head or local leader in an urban location.
- Sketch Map of residence and business premises residence.
- Consent from Spouse.
- Letter of personal guarantor.
- Passport size photo (color)
- police clearance report.
THRESHOLD
- Mwk 1,000,000.00 to Mwk 30,000,000.00
TENURE
- 6 to 24 months
- Minimum grace period of 1 month may be granted.
RATES/TARIFFS
- Interest – 4.8%
- Processing and Admin fee – 4.5%
COLLATERAL REQUIREMENTS
- Registered land
- Vehicles
- Equipment
- Household chattels
GROUP LOAN
TARGET MARKET
- Groups of 5–10 women aged 35–75 who want to venture into a business or are already in business.
OBJECTIVES
- Socio-economic empowerment of the women.
CUSTOMER BENEFITS
- Access start-ups capital members can access the loans through groups solidarity.
REQUIREMENTS
- National IDs for all members.
- Group constitution
- Cross-guarantorship
- Business profile for existing enterprise/business plans for start-ups.
- Bank Statement for existing business.
- Identification letter from village Head or Local leader in an urban location.
- Sketch Map to meeting place and residence of leadership (chairman, secretary and Treasury)
THRESHOLD
- First time borrower Mwk 1,000,00.00 to Mwk 10,000,000.00.
- Second time borrower Mwk 10,000,001.00 to Mwk 20,000,000.00.
- Third time borrower Mwk 20,000,001.00 to Mwk 30,000,000.00
TENURE
- 6 to 24 months
- Minimum grace period of 1 month may be granted.
RATES/TARIFFS
- Interest – 4.8%
- Processing and Admin fee – 4.8%
COLLATERAL REQUIREMENTS
- Mutual Guarantee
- Individual members’ personal assets
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