MICRO (THUTHUKA) LOAN - REQUIREMENTS

1. Loan Amount: Amount depends on business capacity

2. Repayments: Monthly (vary depending on business cycle)
3. Tenor: 1 – 12 Months
4. Required to open a Business Savings Account with EmpowerBank
5. Required to complete an EB Loan Application Form
6. Age 18 – 35 years
7. Proof of Residence (not more than 3 months old)
8. 2 Passport sized Photos for all Directors
9. Copy of IDs for all Directors
10. Detailed Business Plan
11. Past Performance Records (Income Statements, Balance sheets and Cashflow Statements, Sales
Receipts, Invoices, Sales Books etc)
12. For Greenfields - Projections are required clearly stating the assumptions used in coming up
with the projections
13. Loan Amount required and Loan Use Breakdown
14. Quotations for items to be funded (were applicable)
15. 3 - 6 months Bank Statement (or Ecocash Statements)
16. Proof of Ownership or Lease Agreement of the place of operation
17. References for Directors and Company from previous customers
18. Company Resolution to Borrow signed by all Directors (For registered companies)
19. Registration Documents (Articles and Memos, Certificate of Incorporation; CR2, CR14, CR6, Deed of
Partnership, Constitution, Trust Deed, PBC Registration Document)
20. Tax Clearance Certificate & Operating Licences (were applicable)
21. Details of Proposed Collateral: e.g. Shareholder / Director’s guarantees; Title Deeds; Household
properties, Business Equipment, Personal Guarantors, Livestock, Motor Vehicles