Overview

Working capital and capital expenditure

Delivery Channel

  • Red Sphere Finance

Lending Methodology

  • Group

Repayment frequency

  • Monthly or Bullet

Grace period

  • Up to 3 months depending on project

Pricing

  • 5% arrangement fees
  • 2.5% insurance
  • 15% interest on outstanding reducing balance per month.

Limits

  • Maximum $ ZWD 50,000.00

Tenor

  •  Up to 6 months

Who qualifies?

  • Group projects in the informal sector

What you need to apply

  • Passport size photos for group committee
  • Copy of identification particulars for all group members
  • Proof of residence for group committee which should not be more than 3 months old e.g. Electricity bill
  • Group constitution that has authority to borrow

Collateral requirement

  • Moveable assets
  • Guarantor