Overview

Working capital 

Lending Methodology

  • Business loan

Repayment frequency

  • Bullet  

Grace period

  • None

Pricing

  • 5% Establishment fees
  • 2.5% insurance
  • 15% per month on reducing balance

Limits maximum

  • ZWL100,000.00 

Tenor

  • As per conditions of the order.

Who qualifies?

  • MSMES in the informal sector  

What you need to apply

  • Brief business outline
  • Financial records- – invoice book, sales records Trade References
  • Purchase order from potential customer
  • Letter of undertaking from the buyer addressed to the company undertaking to pay direct to Red Sphere by a stated date
  • Instruction to the company by the client to pay suppliers of the product.
  • Bank details of the suppliers (company pays directly to the suppliers 

Collateral requirement

  • Letter of undertaking from the buyer addressed to the company undertaking to pay direct to Red Sphere by a stated date 
  • Movable asset up to $50 000.00
  • Immovable assets in excess of $50,000.00