Small and Medium Enterprises Loans

These are small and medium loans from TZS 5 million to TZS 500 million for loan duration of 12 months and a maximum of up to 60 months depending on the purposes of the loan. If the loan is for capital investment; the loan duration is longer and for working capital the duration is shorter.

Benefits of NMB Small and Medium Enterprises Loans

• It provides loan funds for both working capital and long term investment needs
• Easy to obtain from our existing largest network of branches all over the country
• Low and competitive interest rates
• Training to SME’s are regularly done to equip the borrowers with business skills
• Repayment period of the loan is flexible from 12 months to 60 months depending on the purpos
• SME’s can graduate and become eligible for corporate loans within NMB. Corporate clients can borrow from TZS 500Mn up to many billions.

Eligibility for SME Loans

• Applicant must be at least 18 years of age with at least business experience
• Realistic business cash flow projections for the entire business duration
• Audited financial statements for the last three years and up-to date management accounts for financing above TZS 15Mln
• Business license, Tax Identification Number and Business license Tax Clearance Certificate (certified copy)
• Collateral to secure the loan with ownership documents
• Bank statement for at least recent six months with satisfactory account turnover
• Valuation reports done by a professional valuer for financing above TZS 15 million is required.
• Business plan for medium and large businesses and simple investment plan for small loans up to TZS 30 million