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Mwanga Hakika Microfinance Bank LimitedMwanga Hakika Microfinance Bank LimitedMwanga Hakika Microfinance Bank Limited
+255 747 666 511
Mwanga Hakika Microfinance Bank LimitedMwanga Hakika Microfinance Bank LimitedMwanga Hakika Microfinance Bank Limited
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Business Banking

Credit

  • Business Loans

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
  • Overdraft Facility

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
  • Loans Against FDRs

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 Guarantees

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