Lilongwe 07:30 – 16:30 4295
SKILLED MEN ARTISAN LOAN

Contribute to socio-economic development. Promote job creation. Entrench entrepreneurship spirit

SKILLED MEN ARTISAN LOAN

Group Loan

Rate: Interest - 4.8% pm Processing fee - 4.5% Life Insurance - 1.5% Collateral Insurance - TBA%

Target Market

Individual men who have acquired skills from different institutions and programs such as TEVET, Colleges & technical schools, Government internship.

Tenure

6 to 36 monthsGrace period of up to 180 days from the day of loan disbursement may be granted

Thresholds

Minimum K3,000,000 to Maximum K30,000,000

Objectives
  • Contribute to socio-economic development.
  • Promote job creation.
  • Entrench entrepreneurship spirit
Benefits
Requirements
  • National IDs
  • Colour passport-size photos
  • Partnership Deed
  • Business Registration Certificate
  • Personal Guarantor
  • Guardians’ Consent for Collateral and Loan
  • Letter from local leader
  • Sketch map to residence of place of business
  • Certificate of competence for the skills professed from training institutions.
Collateral
  • Institution guarantor e.g., TEVETA, SMEDI or others where possible.
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