The small loan is offered to a female entrepreneur only. The core objective of this product is to empower the women in the country so that they can contribute to the economy effectively.
The key features of this loan are:
The loan is for expansion of small businesses only.
Helps underprivileged to overcome the dependency on moneylenders.
Develops a self-help mentality and self-employment capacity of the entrepreneurs.
Makes the underprivileged communities self-reliant through involving in income-generating activities.
|Loan ceiling (1st loan)||ZMW 1,000 – K 4,000|
|Follow-on loan||Up to ZMW 4,000|
|Loan processing fees||Applicable|
|No. of instalments||24|
|Loan duration / period||6 months|
|Processing time for 1st loan||1 - 4 weeks|
|Grace period||0 weeks|
|Age limit for first loan:||18 - 60|
|For follow-on loan:||maximum 65|
|Subject to a physical condition|
|Maximum loan limit||ZMW 4,000|
|Collateral requirement||not required|