Eligibility of borrowers :
The Loan Applicant must be at least 18 years of
age or possess the legal capacity to enter into a binding contract.
The Loan Applicant must be able to read and
write to the degree necessary to understand the terms, conditions and
consequences of a legally binding contract.
The Loan Applicant must possess the managerial
capacity and experience to undertake the enterprise for which financing
he/she is applying for.
The Loan Applicant must be the owner and
manager of the enterprise for which he or she is applying for.
The Loan Applicant must not be under indictment
or have any criminal record for crimes of theft, embezzlement, terrorism or
other crimes of dishonesty or violence. However, Loan Applicants who have
been imprisoned under the previous regime for political crimes are eligible
to apply for a loan. The
loan applicant must be unable to obtain financing from other commercial
recourse under reasonable terms . Documents Requested:
Original
and copy of Individual ID Original
and copy of National ID card Original
and copy of Ration card Co-signer’s
agreement (if available )Guarantor’s
agreement (if available )Enterprise
rent contractEnterprise
official registration
Project
financial& accounting reports for past years
Project
business plan
Equipment
ownership property
Mortgaged
real state ownership property
Collaterals:
Loans under $5,000 can be given without a collateral, but under the guarantee of a state employee upon submission of: i) personal identification documents; ii) reference from his/her work about employment and salary .