Lilongwe 07:30 – 16:30 4295
WOMEN ENTERPRISE LOAN

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

WOMEN ENTERPRISE LOAN

Group Loan

Rate: Interest - 4.8% pmProcessing fee – 4.5% Life Insurance - 1.5% Collateral Insurance - TBA%

Target Market

Groups of 5 - 10 women aged above 35 years up to 75 years who want to venture into a business or are already in business.

Tenure

6 to 24 months Grace period of up to 60 days from the day of loan disbursement may be granted.

Thresholds

Minimum K5,000,000 to Maximum K30,000,0001st Time borrower from K5,000,000 2nd Time borrower from K10,000,0003rd Time borrower from K20,000,000


Objectives
  • Contribute to socio-economic development
  • Promote job creation.
  • Entrench entrepreneurship spirit
Benefits
  • Access capital for starter-ups and established enterprises.
Requirements
  • National IDs for all members
  • Group constitution
  • Cross-guarantorship
  • Business profile for existing enterprises/business plans for start-ups
  • Evidence of existing active bank account 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)
Collateral
  • Mutual Guarantee
  • Individual members’ personal assets. Land (Registered and Unregistered Land)
  • Vehicles
  • Woodlot/Orchard
  • Plant and Equipment
  • Household Chattels
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