Small Group Loan

Group Loans

THERE’S STRENGTH IN TEAMWORK

A short term or medium term credit facility that can be accessed within a group of people with a minimum of 5 and maximum of 10 active entrepreneurs owning and running individual businesses.

Why you should apply for this loan

  • Boast business performance and growth.
  • Flexible repayment period.
  • No need for a business license.
  • No collateral requirements.
  • Competitive Interest rate.
  • Can be accessed for a number of cycles as long as the client repays well.

Qualifications for this loan

  • Individual borrowers with active businesses.
  • Applicant must be 18 years and above to below 70 years.
  • Group solidarity.
  • At least 3 months of business existence/activity and 6 months in the community.

Comes with outstanding benefits

  • Groups of 5 – 10 members.
  • Loan amounts to individuals in the group ranging from MWK80,000 – MWK1,000,000.
  • Flexible repayment terms and periods of 6 – 12 Months.
  • Monthly loan repayment.
  • No collateral requirements.
  • Faster loan processing time.
  • No pressure since the loan amount is tied onto the capacity of each individual member/borrower.
  • Insurance cover on loan incase of death.
  • Insurance of spouse and family cover
 
 
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