Credit
The purpose of the Loan is to provide funds for expanding or increasing working capital.
Features:
- Maintain account with MHB
- Insurance wherever applicable
- ATM card and free registered to MHB Mobile
- Low and competitive rates
Eligibility:
- Loan application letter which among issue it state the amount of loan applied
- Board resolution
- IDs of all Directors
- TIN Number of the company
- Business license and Certificate of Registration of the company
- Certificate of incorporation
- Tax clearance Certificates
- BRELA Return
- Three years audited financial statement
- Cash flow covering the whole period of the loans
- Collateral preparations: (Valuation report needed) or chattel mortgage (will be registered under joint ownership with the bank.
- Any other documents requested by the Bank.
Min. loan amount (TZS):
- 500,000/=
Max. loan amount (TZS):
- Up to single borrower limit as per Bank Capital
It is designed to financial flexibility by allowing your business the comfort of having access to additional funds when your bank balance is running low.
Features:
- Applicants must be at least 18 years of age
- The business must have steady cash flow
- Three years audited financial statement
- Cash Flow covering the whole period of the loans
- Not financing fixed assets e.g. Building, machinery etc.
- At least three years’ experience operating the same or a similar business
Benefits:
- Eligible to allow your business to overdraw on your MHB Business account.
- The facility can be renewed
- Connected to the MHB Business account
Min. loan amount (TZS):
- 1,000,000/=
Max. loan amount (TZS):
- Up to single borrower limit as per Bank Capital
Loan tenure (TZS):
- Up to 12 Months
MHB cares for your business where you can borrow up to 80% of the cash deposit in your FDR. This loan to be disbursed within 12 to 24 hours.
Benefits:
- Loan Insurance fee where applicable
- Flexible repayment terms from 12 months to 60 months
- The will be secured by customer’s cash deposit with the bank (i.e Lien on FDR)
- No need of additional security
Min. loan amount (TZS):
- Depend on FDR with MHB
Max. loan amount (TZS):
- Shall not exceed Single borrower limit as per bank capital
Loan tenure (TZS):
- 3 – 60 Months
Bank guarantee are irrevocable undertaking by the bank to irrevocably the guarantees person a specified sum amount upon person is on receipt of the first demand in writing accompany by a written statement stating that the guaranteed person is in breach of contract
Guarantees can be in the form of: Bid Guarantee, Advance payment Guarantee, Performance Guarantee
Features:
- Customer creditworthiness will be analyzed under the same criterion and consideration discussed under corporate overdraft, taking into consideration the nature of a particular guarantee
Benefits:
- It is economically cheaper compared to other facilities e.g. Bank Overdraft
- Enable the customer to engage in undertakings which requires such guarantees, hence make more business
Min. loan amount (TZS):
- N/A
Max. loan amount (TZS):
- N/A
Loan tenure (TZS):
- As specified by the Procuring Entity for each category of the Guarantee