UNITED WE STAND
A credit facility accessible to a group of people actively owning individual businesses and united in groups ranging from 10 people to a maximum of 35 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 – MWK1,000,000.
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 10 – 35 members
- Relatively large amounts of loans up to MWK1,000,000
- No security requirements or loan processing fee to access the loan
- Faster loan processing time
- Monthly loan repayment
- Flexible repayment terms and periods of 6 – 10 Months
- Insurance cover on loan incase of death of client
- Insurance cover for spouse, family, etc