Loan Products
Business Loans
EFC Business Loans are specifically designed for MSME’s that need fast and efficient loan services as a way of empowerment. This type of loan is suitable for entrepreneurs aiming to develop their business by financing a wide range of activities including working capital, equipment purchases and investments.
Eligibility Criteria
The borrower must be:
- An individual entrepreneur or merchant, or other legal entity engaged in income-generating activities.
- Someone who has been in business for at least 6 months.
- Able to demonstrate a proper business recording system and the capability of operating a business profitably.
- In possession of assets or collaterals (e.g. business equipment, vehicle, house or land).
- Residing and operating in Zambia.
- A holder of a regular savings account with EFC Zambia.
Terms
- You can borrow up to K1,200,000
- Collateral required includes vehicles, machinery and real estate
Home Improvement Loan
EFC Zambia aims to contribute to the improvement of the households' quality of life by offering Home Improvement Loans to entrepreneurs who would like to expand or upgrade their existing properties or houses. Knowing that each home improvement project requires a different completion time span and that clients are at different capacity levels, EFC’s Home Improvement Loan offers tailor made solutions for specific needs and home improvement projects
Eligibility Criteria
The borrower must be:
- An individual entrepreneur or merchant, or other legal entity engaged in income-generating activities.
- Someone who has been in business for at least 6 months.
- Able to demonstrate a proper recording system and the capability of operating a business profitably.
- In possession of assets or collaterals (e.g. business equipment, vehicle, house or land).
- A Zambian citizen.
- Residing and operating in Zambia.
- A holder of a Regular Savings Account with EFC Zambia.
Terms
- Loan ranges from K5,000 to K1,200,000.
- Repayment period from 6months to 24 months.
- Formal worker with a business income also qualify.
- House in collateral, vehicles or machinery.
- Home improvement or construction project with Bill of Quantity.
Women Market Traders' Loan
EFC recognizes that each business has a different capacity and faces different challenges. The Market Women Traders’ Loan is designed to provide a financial breakthrough for women with small businesses in need of financial assistance. It is ideal for market women who wish to acquire stock or meet financial obligations.
Eligibility Criteria
The borrower must be:
- A female entrepreneur/merchant or other legal entity engaged in income generating activities.
- Someone who has been in business for at least 6 months.
- Able to demonstrate a proper recording system and capability of operating a business profitably.
- In possession of assets in terms of household goods.
- Zambian citizen.
- Residing and operating in Zambia.
- Able to provide collateral.
Terms
- Loan Ranges from K5,000 to K15,000.
- Repayment period from 6 months to 18 months.
- No collateral requirement for repeat clients.
Personal Loans
The EFC Personal Loan caters for individuals in the formal Sector. The Loan is available to employees of Non-Governmental Organizations and private sector organisations where the organisation enters into a memorandum of understanding with us to offer employees Personal Loans. The MOU allows for convenient, easy and completely hassle-free access to Personal Loans.