Individual loans are given to individual small scale entrepreneurs. This is a straight forward credit lending model where micro loans are given directly to the borrower. It does not include the formation of groups, or generating peer pressures to ensure repayment.
The individual model helps to provide upcoming entrepreneurs with much needed capital to fuel their investments.
|Minimum amount of Tshs. 100,000 with a Maximum of Tshs. 1,000,000. Higher loans can be requested subject to the borrower’s income||Must have a valid business license of up/above 12 months||Interest rates charged.|
|Low interest rates charged||Adequate collateral (value collateral must be at least three (3) times that of the loan requested||LAF/I/V|
|Interest varies with loan repayment period||Must have at least two guarantors|
|Maximum repayment period of six (6) months, Repayment can be done on weekly installments|
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