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Must have good credit History with MHB and other institutions
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The group must be registered under District Council and submit registration Certificate
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Must be groups which deal with buying of shares.
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Must have an Account with MHB
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Before borrowing the group shall be trained by an officer from the Bank who is dealing with micro-loans
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Initial loan will depend on the shares of the group and source of Income as well as assessment of the Relationship Officer but the maximum for the first loan will not exceed TZS 7 milli
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Must have attained majority age i.e. 10 years
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Loan tenure is up to 12 months
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Interest 22% reducing balance
Wekeza Loan
Wekeza loans are all loans issued to the group which engaged in credit and saving facilities. The purpose of the loan is to provide working capital for business owned and managed by micro-entrepreneurs in both rural and urban areas where Mwanga Hakika Bank Operates
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