Credit
Eligibility criteria:
- Must be a member of the small group of five members formed with the guidance
- Need to maintain a savings account with MHB with a compulsory amount equivalent to a minimum of 20% of the loan being requested.
- The fortnightly contribution as follows:
- Loans up to TZS. 800,000/= Compulsory fortnightly contribution amount will be TZS. 5,000/= [1st and 2nd level]
- Loans above TZS. 800,000/= Compulsory fortnightly contribution amount will be TZS. 10,000/= [3rd and 4th level]
- Loans are for existing businesses and not for start-ups with regular cash flows
- Must attend pre-loan training to be conducted by MHB officers
- Should be willing to attend weekly/monthly meetings as required by MHB without fail
- Must have attained majority age i.e. 18 years
- Must be a resident in a community where group lending is operational
- Group members should not belong to the same family
- Frequency of repayment: Fortnightly
- Provision for Compulsory savings
Min. loan amount (TZS):
- 50,000/=
Max. loan amount (TZS):
- 2 Million (4 levels)
Loan tenure (TZS):
- 3 – 12 Months
Eligibility criteria:
- Must have graduated from basic solidarity loans of up to 2.0 Million
Frequency of repayment:
- Fortnightly
Security:
- Cash Collateral Fund (CCF)/ Compulsory Deposit: At least 30% of the applied loan amount, Compulsory fortnightly contribution of minimum TZS 10,000/-
Min. loan amount (TZS):
- Above 2 Million
Max. loan amount (TZS):
- 3 Million
Loan tenure (TZS):
- 12 Months
Eligibility criteria:
- VSLA Group must maintain Account with MHB
- Must be registered by CDO
- Must have share registration Certificate
- The Group must have 3 leaders: Chairperson, Secretary and Treasurer
- The facility will require to be secured by a minimum of 12% compulsory deposit and guarantee from group leader.
Min. loan amount (TZS):
- N/A
Max. loan amount (TZS):
- Loan Amount will depend on the value of shares of the group as well as last amount graduated with
Loan tenure (TZS):
- 12 Months