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Mwanga Hakika Microfinance Bank LimitedMwanga Hakika Microfinance Bank LimitedMwanga Hakika Microfinance Bank Limited
+255 22 276 0211/12
Mwanga Hakika Microfinance Bank LimitedMwanga Hakika Microfinance Bank LimitedMwanga Hakika Microfinance Bank Limited

Microfinance

Credit

  • Group loans (Solidarity loans)
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
  • Solidarity Premium Loans
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
  • Wekeza Group (VSLA Loans)
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