SKILLED WOMEN ARTISAN LOANS
INDIVIDUAL LOAN
TARGET MARKET
- Individual women who have acquired skills (both tangible and intellectual) from different institutions and programs such as TEVETA, colleges & techical school, Government internships.
OBJECTIVES
- To contribute to the creation of jobs to idle skilled graduates.
- Encourage entrepreneurial partnerships.
CUSTOMER BENEFITS
- Access capital for establishing business.
- Get self-employed and employ others.
REQUIREMENTS
- National ID.
- Colour passport-size photos.
- partnership Deed.
- Business Registration Certificate.
- Personal Guarantor.
- Gurdians’ consent for collateral and loan.
- Letter from local leader.
- Sketch map to residence of place of business.
- Certificates of competence for the skills professed.
THRESHOLD
- Mwk 3,000,000.00 to 30,000,000.00
TENURE
- 6 to 36 months
- Minimum grace period of 1 month may be granted.
RATES/TARIFFS
- Interest – 4.8%
- Processing and Admin fee – 4.5%
COLLATERAL REQUIREMENTS
- Personal guarantor
- Institution guarantor e.g., TEVETA, SMED or others where possible.
- Equipment
- Association guarantee where applicable.
GROUP LOAN
TARGET MARKET
- Groups of size 3 to 10 who have acquired skills (both tangible and intellectual) from different institutions and programs such as TEVET, Colleges & technical schools, Government internships.
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 for all members.
- Group constitution.
- Cross-guarantorship.
- Identification letter from Village headman or local leader in an urban location.
- Sketch map to meeting place and residence of leadership(chairman,secretary and treasury, Discipline enforcer).
- Certificate of competence for the skills professed (for artisans’ start-ups)
THRESHOLD
- Mwk 3,000,000.00 to Mwk 30,000,000.00
TENURE
- 6 to 36 months
- Minimum grace period of 1 month may be granted.
RATES/TARIFFS
- Interest – 4.8%
- Processing and Admin fee – 4.5%
COLLATERAL REQUIREMENTS
- Institution guarantor e.g., TEVETA, SMEDI or other where possible.
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