NMB has today announced the launch of unique Loan Program branded NMB Juhudi Loans under which SIDO, BDG and Enablis entrepreneurs in Tanzania will be able to access Juhudi Loans from NMB to facilitate their business needs.

NMB Juhudi Loans are small loans to Micro and Small Entrepreneurs with a purpose to expand small and sustainable businesses. Beneficiaries of NMB Juhudi Loans scheme must be a member of partner organizations (i.e. the Business Development Gateway (BDG), Small Industries Development Organization (SIDO) and Enablis Tanzania Limited. These partner organizations support entrepreneurs with business skills development, business plan writing, financial management, marketing and facilitate After Care Services. In the future NMB Juhudi Loans will be expanded to more partners.

At the launch ceremony, which took place at NMB Sabasaba pavilion, NMB Chief Commercial Officer, Kees Verbeek said, “NMB has a specific focus on the needs of entrepreneurs and this partnership presents us with a unique opportunity to better service these needs by encouraging more clients to sign up as SIDO, BDG and Enablis members. This will entitle them to access NMB Juhudi Loans and moreover, to personalised learning, mentoring and coaching programmes, as well as networking opportunities and financing to ensure that each develops to their fullest capacity.”

The NMB Juhudi Loans are provided to entrepreneurs from TZS 5 million to a Maximum of TZS 500 million. Beneficiaries of NMB Juhudi loans will get business skills training partner organisations- SIDO, BDG and Enablis and large range loans preferred treatment by NMB and access to guarantee schemes being provided by partner organizations to facilitate collateral. Customers who will take NMB Juhudi Loans can also use the loan as seed money for working capital and capital expansion. NMB Juhudi Loans customers will enjoy lower interest rate from the normal interest rates charged by NMB, with lower interest rate and attractive package, NMB Juhudi Loans will go a long way in fostering entrepreneurship development in Tanzania.

Introduction on NMB Juhudi Loans is an important milestone for entrepreneurship development in Tanzania and economic development at large.

Launch events were witnessed by officials from partner organisations, members from media companies and different entrepreneurs.