These are small loans to Micro and Small Entrepreneurs to expand small and sustainable business. The objective is to assist micro and small business owners to get their business grow.
- Applicant can borrow from TZS 1,000,000.00 to a maximum of TZS 15,000,000.00
- It provides fund for working capital and business expansion
- Easy to obtain from our existing largest network of branches all over the country
- Loans can be used for any business purpose provided it is official and licensed business
- Low and competitive interest rates
- The bank provides knowledge to micro and small business owners on how to operate loans
- Repayment period is up to 24 months to accommodate the pressures and needs of micro and small entrepreneurs inline with their cash flows.
- Applicant must be at least 18 years of age
- At least 6 months experience in the same business.
- The business must be located within the target area covered by respective NMB branches.
- Business must have a steady cash flow.
- Applicant must have proper recording system and also shows the capability of operating business profitably
- Applicant must have a premise (owned or rented).
- The borrower must have business license/permit from local authorities in his or her own name
- Applicant must have good reputation in the community
- Applicant must open or have a business or personal account with NMB