- Loan Application
Conditions for Approval Process Includes:
- Financial projections
- Cash flow Analysis
- Profitability analysis of the institutions
- Borrowing capacity of the institution by using Credit Bureau Systems.
- RRA non clearance Certificate.
Documents to be submitted to SMGF Ltd in order to Request Loans for Microfinance Institutions and Sacco’s Requirements
- Letter of request addressed to Managing Director of SMGF specifying the guarantee offered to SMGF LTD
- MFI audited financial statements for at least 3 previous year ( including appendix sent to BNR and cash flow generated during the last three years .
- Business plan of the MFI /Sacco
- MFI/Sacco approval by BNR, RCA
- Descriptions of collaterals given by MFI/SACCO,
- Copy of MFI constitution
- Characteristics of MFI / SACCO such as Customer type, number of braches etc
- 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 .
- Presenting non- tax clearance issued by RRA
- Copy of Annual general meeting of MFI/ SACCO
- Certificate of registration Issued by RDB