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

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

YOUTH ENTERPRISE LOAN

Individual Loan

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

Target Market

Individual youth aged from 18 years up to 34 years in business or those who want to venture into business.

Tenure

6 to 24 Months Grace period of up to 60 days from the day of loan disbursement

Thresholds

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

Objectives
  • Contribute to socio-economic development.
  • Promote job creation.
  • Entrench entrepreneurship spirit
Benefits
  • Low monitoring cost
  • Low processing cost
  • Contributing to creation of job opportunities.
Requirements
  • Application letter
  • National ID
  • Business profile for existing enterprises/business plans for start-ups
  • Bank statement
  • Financial statement (Income statement, Cashflow, Balance sheet)
  • Pictures for business and collateral (A4 size, colour)
  • Security documents
  • Identification letter from Village Head or local leader in an urban location
  • Sketch Map of residence and business premises.
  • Consent from spouse (if applicable).
  • Letter of personal guarantor.
  • Passport Size Photo (Colour)
  • Tax Clearance for loans above K5 million
Collateral
  • Land (Registered and Unregistered Land)
  • Vehicles
  • Woodlot/Orchard
  • Plant and Equipment
  • Household Chattels
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