Report of microfinance business! in Tanzania

I put the key banks to help them people who need small loans limited to that of a medium for doing business in Tanzania .

I have been able collect this information and may stakeholder suppose now  what you know :-

• CRDB Bank ltd .... small loans (may be 1-20mil)interest rate (with insurance) is 20% and one must have a Certificate of plot or house.



• FINCA .. I have  had reports that someone borrowed 15mil should restore 1.7mil per month which gives us an interest of 33.3%.



• NMB -There they took a loan of 30mil which will pay for 4 years ;interest reached 12mil +  other charges (40%)   I've had report that small NMB loans (100k -5mil)interest rate in 24%(2% per month).



• TIB(Tanzania investment Bank) they lend medium and large i hear they originated USD180k



• SACCOS which I am a member but charges 13% give small money (1-10mil)and must stay on queue for almost 6 months.



• NBC  -- They offer loans at interest of 20-24% ,but is based on overdraft, You have a document or other ,securities houses.Overall though I  like to package their interest is still very high !



• Exim Bank : give business loans at an interest  rate of 19%. You can take all over draft.
• Barclays Bank:giving loans only  medium and large(>5mil). Their interest is 25%
• Stanbic Bank :give business loans also their interest rate are 21% and other requirement are as for other banks.(certificate of housing,business license ,audited account etc)!!!

• Kenya Commercial Bank (KCB) :They have business loans from 10mil and their interest rate of 19% .other condition are like other bank to accept overdraft. But I could not find details of interest rates on over draft per month.

oft more information to   help us to express  here for update this post for help those need credit..

read here    how to be member of insurance

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