SMEs Portfolio

Business Loans

Target: Established SMEs (Traders, Agro-dealers, Manufacturers, Service Providers)
Facility Purpose:Working capital and Asset financing for acquisition of Assets, materials and meet general business operational costs.
Product Features

• Loan Amount: MWK 1,000,000 – MWK 50,000,000
• Maturity: 3 – 12 months
• Interest rate: 3% per month (36% per pa)
• Collateral: Asset registered in the name of CoFi and only transferred when loan is fully repaid.
• Documentation: Application form, Business plan, Market contracts, Suppliers agreement

Trade Finance Loan

Target: Established SMEs (Cooperatives, Traders, Agro-dealers, Manufacturers, Service Providers)
Facility Purpose:Working capital cash loans for purchase of raw materials, stocks
Product Features

• Loan Amount: MWK 1,000,000 – MWK 30,000,000
• Maturity: 3 – 6 months
• Interest rate: 3% per month (36% per pa)
• Documentation: Application form, Business plan, Market contracts

Micro-Enterprise Loans

Target: Employees/Self-employed Individuals
Facility Purpose: Cash loans to meet Education, Health bills, Housing and other pressing needs for personal development and emergencies.
Product Features

• Loan Amount: MWK 100,000 – MWK 20,000,000
• Maturity: 3 – 12 months
• Interest rate: 3.2% per month (38% per pa)
• Collateral: Asset registered in the name of CoFi and only transferred when loan is fully repaid.
• Documentation: Letter of Undertaking from Employer-Pay slips (2-3 previous months), Letter of Undertaking, guarantor, Passport photo, ID (for client and guarantor) Security documents