Loan Products
Edu Finance
At EFC, we believe that proper education is the backbone of the nation. The provision of quality education does not happen in a vacuum, it requires good school infrastructure, well trained teachers and parents that are committed to paying school fees on time. To assist in shaping and developing the learners, we have introduced an Education Loan to cater for various education-related financial needs.
The facility is issued to private sector schools and colleges in Zambia at competitive interest rates and flexible repayment periods ranging from 3 months to 36 months.
School Improvement Loan
The School Improvement Loan (SIL) is utilized for school expansion/extension and spot improvements such as plastering, painting and tiling.
It can also be used for acquiring movable assets like ICT or science equipment, a school bus, or operational expenses, such as payment of teacher salaries.
Benefits
- Flexible repayment terms suitable for the school’s cash flow
- Caters for short-term liquidity needs
Eligibility
Owned as a Private Limited Company/Trust School/Church School/Partnership/Sole proprietorship
Has operated for at least 2 years
At least 100 learners
The Principal/Bursar should have at least 2 years’ experience in the position they are serving.
Requirements
- Original Certificate of Incorporation
- Certificate of Share Capital for limited liability schools
- Original Tax (TPIN) Certificate and Tax Clearance Certificate
- Original Articles of Association, stamped PACRA printout (less than 30 days), original Form 5
- Board Resolution (agreement for opening account, stating the signatories and the signing arrangement) and MOU with the school
- Proof of physical address for the school
Teacher Loan
This loan is issued to an individual teacher for smoothening of income, to pay tuition to further their education, or to start a business.
Benefits
- Shorter Turn Around Time (TAT)
- Flexible collateral requirements
Eligibility
Have an account with EFC and a fixed term/ permanent teaching contract
Between 21 and 65 years
At least one (1) year teaching Experience
Employed at the school for atleast 6 months
Requirements
A loan application letter
Proof of identity document
Proof of residence document
2 passport size photographs
3 months certified copies of latest payslips
Recommendation letter from school authorities and a breakdown of intended use of funds
School Fees Loan
This is a loan issued to a parent or guardian seeking to send their children to school or college. It covers up to 100% of tuition fees, uniforms, boarding fees, transport, textbooks, stationery, and other school-related expenses.
Benefits
Short loan repayment period from 3 to 6 months
Flexible collateral
Facilitates Educational Financing needs of parents/ guardians
Eligibility
Applicant should be at least 21 years of age but not more than 65 years
The school in which the child is studying should be registered and/or licensed by the Ministry of Education
The applicant should have a business or residence within the operational zone of EFC Branch network
Requirements
A loan application letter
Proof of Identity and Residency
2 passport-size photographs, Certified copies of 3 months’ payslips or any proof of income
Recommendation letter from the school that includes the child’s school fees to be paid.
Proof of employment or business
We are here to assist
Apply for Edu Finance
Cover tuition fees, classroom upgrades, or teacher training through EFC Zambia’s Edu Finance suite, School Fee, Teacher, School Improvement, and Edu-Save loans. Enjoy flexible repayment plans and fast approvals that keep learning front and centre.