Enterprise Finance Ltd (EFL) is a Microfinance Company incorporated in 2010 under the Companies Act to undertake the business of providing financial services to enterprises and individuals, Operating in two regions Dar es Salaam and Arusha.
The company was established to meet the growing need for financial services by entrepreneurs and individuals wishing to obtain capital to grow their businesses and/or meet urgent personal needs. We have noticed that most commercial banks are generally based toward serving large corporate borrowers, who provide better business plans and more reliable financial information, have a good credit rating and a better chance of success and are more profitable for the banks. Existing of Microfinance Institutions (MFIs) offer a limited range of loan products designed for groups and a few individuals. As a result, there has been the mushrooming of informal finance provision in the country that is disorganized and expensive. Driven by the demand for such finance, EFL developed a lending model in the form of quick, flexible and easy finance based on conditions and terms that reflect the peculiarities of each borrower. The company has introduced the relationship-lending model that is based on qualitative information, with an emphasis on the character and reliability of the client, which has been gathered from informal sources, such as suppliers of products, personal guarantors and references, to enable the client to obtain a loan quickly without being interrogated as normally happens with traditional lenders.
The loan size offered to each client would be unique, depending on the nature of the project pursued, ability to pay and the character of the client. Personal and institutional references and a guarantee system would enable the client to obtain finance without necessarily having the collateral required by most banks.
In an endeavour to achieve its mission, EFL values quality, innovation, integrity, reliability and excellence, and giving value to clients and society at large.
The mission of EFL is to empower individuals and enterprises to achieve sustainable growth through delivering innovative, affordable and demand-driven micro finance services.
EFL’s vision is to become a renowned provider of financial solutions in Tanzania by developing and
delivering sustainable microfinance services with the purpose of growing its clients.
EFL has 30 dedicated staff with good qualifications and experience in microfinance and entrepreneurship development. Our staff members are well trained in customer care and microfinance operations. The senior members of the management team have had a lot of experience in other financial institutions in Tanzania and have undergone training in management and microfinance. All Loan Officers are graduates from tertiary institutions with additional training in the operations of MFIs.