We know that business finance is a great catalyst for business growth but we are also aware of the many non-financial challenges that limit the sustainability of small businesses. Finance alone is not sufficient to develop small businesses and make them competitive in the market.
Our local enterprise development programme targets micro and small enterprises in the sectors of Agriculture, Industry and Technology providing financial and technical services.
Focal Development Finance provides loan finance. The credit process is transparent and clients are adequately briefed on conditions before any disbursements are made. Credit is disbursed on reducing balance at competitive rates.
Technical services are typically advanced to clients as part of the loan package through client trainings. Certain top up fees are however applicable depending on the nature and extent of the service requirements to ensure cost effectiveness.
The FDF business loan specifically targets businesses involved in agriculture, industry and technology sectors. It is a full product that finances a wide variety of business needs from working capital to asset purchases.
1. 2% monthly interest rate on reducing balance
2. Loan analysis fee of 3% of loan amount disbursed
3. Credit life insurance for individual borrowers at 1.2% of loan amount disbursed
4. Flexible repayment period up to 24 months
5. Accessibility to grace period on the first loan instalment
6. Free business training, awareness and advisory.
1. A business in the target market
2. Individuals must be 18 years and above
3. Business and residence located within the branch’s reach.
4. At least six months experience in particular business for industry and technology sectors. At least one year’s experience in particular business for agricultural production.
5. At least one off farm income activity for agricultural producers.
6. Collateral (movable & immovable collateral accepted for example business equipment, motorcycle, vehicles, household property, land, buildings)
7. Personal guarantor
Most small businesses require technical support to prop up their management capacity so that they are efficient, sustainable and better equipped to produce high quality products.