Small Business Loan

 

Small Business Loan

TYPE Small Business loan (Karobar)
Currency US Dollar/AFA
Minimum Amount 200 dollars / AFA 14,000
Maximum Amount 10,000 dollars / AFA 700,000
Minimum duration 6 months
Maximum duration Tenure: 12 Months for working capital and 24 months for purchasing assets
Admin Fee 1 % of Disbursed Amount
Installments Monthly
Interest Rate (Declining) 27%
Interest Rate (Flat) 15%
Guarantees Third party guarantee
Shura reference (optional)
Collateral For Loans below USD 1000 only third party gurantees and above USD 1000 Title Deed (House, Business, land, commercial building etc) + Third Party Guarantee
Max. Grace Period per annum (months) Working Capital: 1-3 A.P/Production: 1-4
Possible purpose / project Working capital, Asset Purchase, Replenishment of stock (raw material, inventory), transportation expenses, improvement of shop / workshop.
Eligibility Annual Income of ( net Business expenses) not exceeding USD 10,000 Valid NID Age Between 18-65 yearsActive Business, Start up business
Positive loan history with FMFB
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