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)
GROUP LOAN
TARGET MARKET
Groups of size 3 to 10 men who have acquired skills from different institutions and programs such as TEVETA, Colleges & technical schools, Government internships.
OBJECTIVES
To contribute to the creation of jobs to idle skilled graduates.
Encourage entrepreneurial partnership.
CUSTOMER BENEFITS
Access start-ups capital members can access the loans through groups solidarity..
REQUIREMENTS
National IDs for all members
Group constitution
Cross-guarantorship
Identification letter from village Head or Local leader in an urban location
Sketch map to meeting place and residence of leadership (chairman, secretary, treasurer, 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 24 months.
Minimum grace period of 1 month may be granted.
RATES/TARIFFS
Interest: 4.8%
Processing Admin fee: 4.5%
COLLATERAL REQUIREMENTS
Institution guarantor e.g., TEVETA, SMEDI or other where possible..
