equity bank Micro Business Loans

Group Loan

Group Loan is a credit product specially designed for group borrowers or customers with micro businesses

Benefits/Features	Eligibility	Pricing
Minimum loan amount of Tshs. 50,000 and max of Tshs. 2,000,000	Should be an account holder with Equity Bank for at least 3 months	Interest rates of 25% flat per annum
Loan amount is four times the member’s savings	Valid business with business experience of at least 1 year	LACE 2%
Maximum repayment period of 6 months for first borrowers and 12 months for repeat borrowers	20 members with minimum of 2 sub-group having a minimum of 5 members
Flexible security requirements i.e. group guarantee, weekly savings, 25% of special savings, household chattels	Members qualified to get loan after four week savings and EBL Training
Flexible repayment terms (monthly or weekly)
Operating their business under the same locality

Biashara Imara Loan

Biashara Imara is a credit product specially designed to cater for micro enterprises.

 

Benefits/Features	Eligibility	Pricing
Minimum loan amount of Tshs. 100,000 and max of Tshs. 5,000,000.	Should be an account holder with Equity Bank for at least 3 months	Interest rates of 20% flat
Maximum repayment period of 12 months	Valid business with business experience of at least 1 year	LACE 3%
Flexible repayment terms (monthly or weekly).	Permanent business locations
Flexible security requirements i.e. land titles, log books, debentures, house hold chattels etc.

Biashara Daima Loan

•  Biashara Daima is a credit product specifically designed to cater for growing medium-scale business persons.
• Rent Milele is a credit product specifically designed to cater for landlords.

Benefits/Features	Eligibility	Pricing
Loan amount between of Tshs. 5,000,000 and Tshs. 30,000,000	Should be an account holder with Equity Bank for at least 3 months	Interest rates of 18% flat
Maximum repayment period of 24 months	Registered  business	LACE 3%
Flexile security requirements i.e. chattel mortgage, log book, title deed, debentures, residential license etc	Permanent business locations