Lilongwe 07:30 – 16:30 4295
MICROLEASING LOAN

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

MICROLEASING LOAN

Individual Loan

Rate: Interest- 4.8% pm Processing and admin fee- 4% Life Insurance- 1.5%. Collateral Insurance - TBA%

Target Market

This is a loan product that will help individuals to build and grow value-creating, sustainable businesses by enabling them to acquire equipment for their businesses on lease.

Tenure

Up to 36 months

Thresholds

Above 30.0 million to K250.0 million


Objectives
  • Contribute to socio-economic development.
  • Promote job creation.
  • Entrench entrepreneurship spirit
Benefits
Requirements
  • National ID
  • Recent colour passport-size photo
  • 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
  • Cessation of the equipment being bought as collateral.
  • Police clearance report
  • Quotation for the equipment to be bought.
Collateral
  • Endorsement of NEEF as tittle holder for the item leased.
  • Note of NEEF’s interest on insurance policy
  • The proceeds of any of the foregoing
  • Personal guarantor
  • Land (Registered and Unregistered Land)
  • Vehicles
  • Woodlot/Orchard
  • Plant and Equipment
  • Household Chattels
  • Furniture, Fixtures and fittings
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