About Individual Lending
Basically, we have TWO TYPES of individual lending designed for:
- EMPLOYEES who are in need of working capital to expand their businesses or those who have an urgent need to meet their financial obligations. This is a short-term facility varying from one month to six months. The amount of the loan offered depends on the:
(a) Employee’s salary
(b) Purpose of the loan
(c) Period for which the loan is taken
- BUSINESS PERSONS who need short-term finance to meet business obligations. This type of loan is given to selected entrepreneurs with the viable businesses/projects and required security to guarantee repayment of the loan.
Features of Individual Lending
All loans are not created equal, personal loan has become a great option for people to use.
Fast Loan
Loan processing is done within 48 working hours or less after completion of all requirements.
Enjoy the Best Rates
Our interest rates and charges are very affordable varying with the type and purpose of the loan, terms of repayment and security offered.
Choose Repayment Terms
Your Loan Officer will assist you to choose the best repayment terms and find the options that work best for you.
No Hidden Charges
All charges are communicated upfront and no additional charges are imposed.
Eligibility
Any salaried or self-employed professionals from public and private sector companies is eligible for a individual loan.
You must be of legal age (18 years old or above); maximum age of applicant at loan maturity is 60 years.
Minimum Net Monthly Income: TZS. 500,000.
Applicant should have the bank specified credit score.
Benefits
Individual loans are processed quickly and loan repayments are made on a monthly basis through our bank accounts and/or mobile phone payment.
Of the many things that EFL has helped to grow my company from its infancy stage, I can only say but a few. They have always provided us with quick loans at the lowest interests. EFL stands out because they do care about the customer – this is really unparalleled. Thanks, EFL!
EFL is a microfinance company with a zeal for excellent service to its clients and other stakeholders in its capacity as a lending institution. Their work culture is also an embodiment of professionalism and accountability.
