LOAN PROGRAM

Loan categorized into four groups:-

  • Micro: One up to Four (1-4) employee and Capital less than 5,000,00 Tsh
  • Small:  five up to 19 (5-19) employee and capital is less than 10,000,000 Tsh.
  • Medium:
  • Woman & People with Disabilities (W&PWD):
  • Youth:

 

FEATURES

Short Term Loan

Loan Amount: 500,000 Tsh - 10,000,000Tsh

Repayment Period: 1 up to 6 Month.

Repayment Model: Monthly instalments

Interest rate: 0% per annum

Service Charge: 10% of the loan amount

This loan priority for women &people with disability

 

Medium Term Loan

Loan Amount: 10,000,000Tsh - 20,000,000Tsh

Repayment Period: 6 month up to 2 years (24 Month).

Repayment Model: Monthly instalments

Interest rate: 0% per annum

Service Charge: 10% of the loan amount

 

Long Term Loan

Loan Amount: 20,000,000 Tsh – 57,000,000Tsh

Repayment Period: 6 month up to 5 year (60 month)

Repayment Model: Monthly instalments

Interest rate: 0% per annum

Service Charge: 10% of the loan amount

CONDITIONS/REQUIREMENTS

  • Must be  a Zanzibarian is involved in the production of goods or the provision of legal services
  • Be an individual or group / factory / registered production company, ranging from two (ninety-nine) to 99 persons;
  • A group / factory / company or individual should have a Business Plan submitted to the Agency as a guide that gives a visual picture of the loan activity.
  • The applicant will be required to have a Savings Account in his or her name or group or factory name as set out in the Registrar's document;
  • As a group, they will have to have recognized leadership in the processes they have set for themselves;
  • Availability of annual monitoring procedure and submission to Agency for review.
  • For a member / members of a cooperative they shall receive confirmation from the Communities managing their groups.

 

BENEFICIERIES

Both, Start up and existing businesses.

 

Fund Priorities

In pursuance of section 25 (1) of the Agency Act No.2 of 2018, the Agency has set priorities for the following communities or producers:-

  • Women
  • Young people graduating from high school, colleges and colleges;;
  • Young people with special skills and no special skills who need to develop their economic activities through production and service delivery;
  • Individuals in special groups, including persons with disabilities
  • Industries or Groups registered and licensed to operate a production or service business will be required to make a new application;
  • Clusters of production of the same product;
  • Clusters of production of the same product
  • Groups that will need a loan for land ownership, construction of a production unit, purchase of production equipment, procurement of raw materials, provision of maintenance machinery services in electrical garages and mechanical engineering for the purpose of promoting production and delivery service.

 

 

 

 

Director

SMIDA Haji Abdulhamid
Thank you for spending time on our website. As you learn about Zanzibar Micro, Small and Medium Industrial Development Agency (SMIDA), I hope you will gain a sense of the commitment we have to our beneficiaries of our service and the standards which we adhere.
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