LOAN TERMS:
Lender
LOAN TERMS:
GroFin
Eligibility
LOAN TERMS:
Your business operates in countries where we have an office: Kenya, Uganda, Tanzania, Rwanda, Ghana, Nigeria, Ivory Coast, Senegal, South Africa, Zambia, Egypt, Iraq, Oman or Jordan.
You have an established business: operating for 2-3 years and has an annual turnover of 1.5 times the loan amount. We do consider startups on a case-by-case basis.
Your business operates in one of our preferred sectors: Education, Healthcare, Agri-Processing, Manufacturing, or Key Services (Energy / Waste / Water / Recycling).
Your business is making a positive social and economic impact: E.g. Creating Jobs, Sustaining Livelihoods, Empowering Women, Benefiting the Environment.
Loan Limit
LOAN TERMS:
The minimum loan amount is $100,000 and the maximum loan is $1.5m in your local currency equivalent
Interest Rate
LOAN TERMS:
Interest Rate: about 8%p.a to infinity based on market conditions and your risk profile
Max Tenor
LOAN TERMS:
The tenor of the loan is between 3 and 8 years
Security Required
LOAN TERMS:
We expect entrepreneurs to (partly) secure the loan. Personal guarantees of the entrepreneur(s) are required.
Documents Required
LOAN TERMS:
Step 1
Our investment team reviews your submitted online assessment form against our investment criteria and informs you if we are able to proceed with your application.
Step 2
If you qualify, your Investment Manager contacts you and helps complete your application by conducting an assessment of your business, highlighting key risks and opportunities to make your business investment-ready.
Step 3
Your application is submitted to a committee for review. Upon approval, your application will result in an offer that will be documented in a formal letter to you.
Step 4
Upon your formal acceptance of our offer, we proceed with disbursing funds to your business.
Step 5
We provide you with continuous value-adding business support focusing on your business’s needs. Our support is designed to enhance the success of your business while helping you implement your business plan.
Step 6
On payment of your final installment, our formal involvement with your business ends. The final settlement is a good time to review your business plans and discuss any further finance and support needed in keeping with your future growth requirements.
Approval Time
LOAN TERMS:
About Four (4) months from the time you submit all the required documentation
