WOMEN ENTERPRISE LOANS
INDIVIDUAL LOAN
TARGET MARKET
- Individual women aged 36-75 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 gurarantor.
- 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 fee – 4.5%
- Insurance – 1.0%
COLLATERAL REQUIREMENTS
- Registered land.
- Vehicles
- Equipment
- Household chattels
GROUP LOAN
TARGET MARKET
- Groups of 10 women aged above 35-75 years who wants 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 group solidarity.
REQUIREMENTS
- National IDs for all members.
- Group constitution.
- Cross-guarantorship
- Business profile for existing enterprisesbusiness 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 1,000,000.00 to Mwk 10,000,000.00.
- Second time borrower Mwk 10,000,001 to Mwk 20,000.000.00
- Third time borrower Mwk 20,000,001 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 fee – 4.5%
- Insurance – 1.0%
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