• Loan Application

Conditions for Approval Process Includes:

  1. Financial projections
  2. Cash flow Analysis
  3. Profitability analysis of the institutions
  4. Borrowing capacity of the institution by using Credit Bureau Systems.
  5. RRA non clearance Certificate.

Documents to be submitted to SMGF Ltd in order to Request Loans for Microfinance Institutions and Sacco’s Requirements

  1. Letter of request addressed to Managing Director of SMGF specifying the guarantee offered to SMGF LTD
  2. MFI audited financial statements for at least 3 previous year ( including appendix sent to BNR and cash flow generated during the last three years .
  3. Business plan of the MFI /Sacco
  4. MFI/Sacco approval by BNR, RCA
  5. Descriptions of collaterals given by MFI/SACCO,
  6. Copy of MFI constitution
  7. Characteristics of MFI / SACCO such as Customer type, number of braches etc
  8. Information on governance: share holders , Management board , Internal control mechanisms, external Auditor , Management with description of senior management skills and person in charge of financial management .
  9. Presenting non- tax clearance issued by RRA
  10. Copy of Annual general meeting of MFI/ SACCO
  11. Certificate of registration Issued by RDB