Group Lending

Summary

• Loans to support income-generating activities for Individuals and SMEs
• Maximum loan $500,000

Requirements

• Business proposal
• Operating licence
• Companies- Memorandum and Articles of association, Certificate of incorporation, CR14, CR6,
• Individuals- ID, Proof of residence
• Cooperatives/Groups- constitution and registration documents (as necessary)
• Proof of income- 6 months bank statement, sales records Collateral security

Acceptable forms of security

• Title deeds
• Shares
• Fixed/Treasury investments
• Guarantees by individual / companies
• Movable asset pledges

Terms

• 1-12 months
• Interest rate 20% p.m

Summary

• For both individuals and SMEs with confirmed orders for reputable customers with capacity to pay.
• Loan tenure is determined by the terms and conditions of the order.
• Maximum loan $500,000

Requirements

• Business proposal
• Confirmed order(s)
• Letter of undertaking by the buyer/ issuer of the order
• Quotations from the supplier(s)
• Collateral security
• Supporting 6 months banking statements

Terms

• Up-to 90 days
• Interest rate 20% p.m

Summary

• Personal loans availed to salaried individuals, ie, civil servants, university employees, selected councils, other approved employers.
• Caters for FBC Bank and Non FBC Bank Customers.
• Deductions will be by way of Payroll (eg SSB) stop order.
• Maximum loan $250,000

Requirements

• Current payslip
• ID
• Proof of residence
• Confirmation of employment
• 3 months bank statement

NB: FBC Bank, Crown Bank ,FBC Building Society members are not eligible

Terms

• 3-12 months
• Interest rate 20% p.m

Summary

• Personal loans availed to Government, ZESA, NRZ and NSSA pensioners.  
• Caters for FBC Bank and Non FBC Bank Customers.
• Deductions will be by way of Government and bank stop orders.
• Maximum loan $100,000

Requirements

• Current payslip
• ID
• Proof of residence
• 3 months bank statement

NB: All ex- government employees do qualify.

Terms

• 3-12 months
• Interest rate 20% p.m