After years of study we have proved uniqueness of the financial needs of each Microfinance Institution. And so, we have developed a range of loan products so as to meet the unique needs of each MFI. Our major loans groups include business loans, emergency loans, agricultural loans and special loans for women.

Eligibility for loans

CRDB MFC Limited offers loans to MFI's, which have entered into partnership agreement with the Bank for onward lending to their individual clients. CRDB MFC Limited will partner with only those MFI's that have adhered to the Bank's established best practices. These include:

1) Existence of a reliable administration
2) Participation of the MFI in training programs conducted by the Bank
3) Good performance report on management of loans granted by the MFI to their members.
4) Clean finding reports

Documentation requirements

MFI's applying for a loan from CRDB MFC Limited will also submit the following documents along with their application:

1) Certificate of registration and Memorandum and Articles of Association (MEMARTS) or constitution.
2) Minutes of annual general meeting authorizing borrowing and signatures of attendees
3) Certificate of maximum liability issued by the Registrar of Cooperatives
4) Audited accounts for the past three years
5) Budgeted balance sheet and income statement as well as projected cash flow statement
6) Business plan
7) Aged list of all debtors verified list of stocks
8) Valuation report for all tangible assets pledged as security
9) Business contracts signed with suppliers, employers, customers and other interested parties
10) List of written off loans, if any.
11) Past performance report supported by existing portfolio of the MFI detailing name of the borrower, amount approved, start date, expiry date, and outstanding balance.
12) List of individual clients of the Micro - Finance Institution showing the date of registration, amount of shares paid, loan amount requested, proposed credit period and the specific purpose of each individual clients.

Security Arrangement

Loans granted to MFI's by CRDB MFC will be secured by:

1) Guarantee fund under special arrangement with coverage of the accepted percentage of the loan amount;
2) Lien over fixed deposit account with the coverage as specified in the partnership agreement;
3) 100% of arrears free loan portfolio from their own fund;
4) Group guarantee for all disbursed loans

Business loans

Term Loans

Purchase of capital items requires large amounts of money. With term loan from CRDB MFC Limited, MFI's can now invest in fixed assets or capital items without straining their financial resources. The Bank's repayment arrangement is spread over a period longer than twelve months thus enabling the MFI to repay the loan and still run a profitable business.

For further information call +255 22 2126241 or send an e-mail to microfinance@crdbbank.com

Short-term loans

Short-term loans are normally used to finance purchase of agricultural inputs. The loan is given in one or two disbursement and is paid within a period of twelve months.

For further information call +255 22 2126241 or send an e-mail to microfinance@crdbbank.com

Seasonal loans

Every business has a unique business cycle. If your business is affected by seasonal fluctuations, the CRDB MFC Seasonal loans offer you a suitable solution. You can borrow to buy inventories during a low season thus taking advantage of favourable terms.

Repayments will be scheduled to match with the sales season or the period when the business turns its receivables into cash.

For further information call +255 22 2126241 or send an
e-mail to microfinance@crdbbank.com

Overdrafts

In the course of business, your working capital may be depleted thus crippling your business capacity to purchase current assets or pay current liabilities. At such times, you need an overdraft facility from CRDB Bank.

The facility enables you to pay more than the balance in your bank account. It enables you to create new inventories and receivables and to repay as you receive payment from your customers.

Credit period for an overdraft is twelve months.

For further information call +255 22 2126241 or send an e-mail to microfinance@crdbbank.com