UNITED WE STAND
A credit facility accessible to a group of people actively owning individual businesses and united in groups ranging from 5 to 25 people.
Why you should apply for this loan
- Facilitates business performance and growth.
- Flexible repayment period tailored according to the borrowers’ capacity and or desire.
- No need for a business license.
- No collateral or security requirements to obtain the loan.
- Competitive Interest rate.
- Can be accessed for a number of cycles as long as the client repays well.
Loan amounts to individuals in the group ranging from MWK20,000 – MWK1,500,000.
Qualifications for this loan
- Individual borrowers with active businesses.
- Applicant must be above 18 years but below 70 years.
- Group solidarity.
- At least 3 months of business existence and 6 months living in the community.
Comes with outstanding benefits
- Groups consisting of 5 to 25 members.
- No security requirements.
- No loan processing fee to access the loan.
- Faster loan processing time.
- Monthly loan repayment for 4 to 6 months.
- Insurance against natural disaster, fire, sickness and death.
- Insurance cover for spouse and family.