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Finca Bank is one of the institutions in Malawi offering loans. Below is a list of loans offered, interest rates and documents required:

—–Individual Loan

Loan Qualification

  • Individuals or companies with active businesses.
  • Applicant must be 18 years and above.
  • At least 6 months of business existence and activity.
  • Possession of a business license.

Why FINCA Business Loans

  • Access amounts from MWK500,000 to MWK75,000,000.
  • Repayment periods from 6 – 24 Months.
  • Flexible and affordable collateral requirements.
  • Faster loan processing time.
  • Comes with Insurance cover.

—-Group Loan

Why you should apply for this loan

  • Facilitates business performance and growth.
  • Flexible repayment period tailored according to the borrowers’ capacity and or desire.
  • No need for a business license.
  • No collateral or security requirements to obtain the loan.
  • Competitive Interest rate.
  • Can be accessed for a number of cycles as long as the client repays well.
  • Loan amounts to individuals in the group ranging from MWK20,000 – MWK1,500,000.

Qualifications for this loan

  • Individual borrowers with active businesses.
  • Applicant must be above 18 years but below 70 years.
  • Group solidarity.
  • At least 3 months of business existence and 6 months living in the community.

Comes with outstanding benefits

  • Groups consisting of 5 to 25 members.
  • No security requirements.
  • No loan processing fee to access the loan.
  • Faster loan processing time.
  • Monthly loan repayment for 4 to 6 months.
  • Insurance against natural disaster, fire, sickness and death.
  • Insurance cover for spouse and family.

—-Payroll Loan

LOAN QUALIFICATION

  • Signed MOU with client’s employer
  • Completed signed loan application form
  • Applicants must be between 18 years and 60 years
  • Proof of confirmed monthly salary income from at least 6 months
  • Credit Reference Bureau Report
  • Proof of residence
  • Any other documents as requested by FINCA

WHY FINCA PAYROLL LOAN

  • Loan amounts from K100,000 to K3,500,000
  • Flexible repayment terms between 3 to 24 months
  • Low processing and interest fees
  • No collateral or security requirements to obtain the loan
  • Quick loan processing
  • Comes with Insurance cover
  • Client can get a loan top-up after servicing half of the loans but no parallel loans are allowed



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February 17, 2024

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