Name of the Organization : Indo Zambia Bank
Type of Facility : Apply For MSME Loan
Country : Zambia
Website : http://www.izb.co.zm/english/msmeloan.aspx
Apply For MSME Loan :
Purpose:
For staring a new project – Term Loan for acquiring fixed assets as well as overdraft for meeting working capital requirement. Composite loans for micro units
Related : Indo Zambia Bank Agriculture Finance Scheme : www.statusin.org/6581.html
Quantum of Finance:
80% to 90% of the project cost
Criteria:
** Registration with PACRA as a business enterprise
** Fixed investment (excluding on land & building ) not to exceed as follows;
** Micro enterprise- ZMW80,000
** Small Enterprise -manufacturing unit – ZMW 200,000 & Service unit –ZMW150,000
** Medium Enterprises-manufacturing- ZMW500,000 & Service Unit-ZMW300,000
** Sales Turnover not to exceed as follows; Micro enterprise- ZMW150,000
** Small Enterprise – ZMW250,000
** Medium Enterprises-ZMW8000,000
** No. of employees
** Micro enterprise- Upto 10
** Small Enterprise – 11 to 50
** Medium Enterprises-51 to 100
Criteria 1 & 2 are compulsory which should be met together with either 3 or 4
Available products:
** Project Finance by way of term loan for acquiring fixed assets, plant & machinery, equipment
** Working capital by way of loans and overdrafts
** Short term loans for financing specific orders
** Invoice Discounting for financing receivables
** Non fund based facilities like Bid bonds , performance Guarantees , Letter of credit
** Trade finance for import and export
** Composite loans available for small units
Repayment Period:
Maximum 60 months subject to profitability/income generation
Rate of Interest:
BOZ Policy Rate plus margin
Security:
Mortgage of property/ Debenture of immoveable and moveable assets/Liquid security etc
*Relaxed financial parameters.
*Quick disposal of applications
Contact:
Please contact your nearest branch for further details.
FAQs :
1.Who can avail IZB-SMS facility?
All customers of Bank having Savings & Current A/c may avail this facility who are holding a mobile phone. The mobile phone should be in the Account holder’s name.
2.. How do I register for the facility?
Presently, the registration is available on filling up a form and its submission at your branch. The form is available on our website, at branches.
3. Can I have more than 2 deposit accounts linked for the facility?
Yes, Only Saving/Current Deposit Accounts can be linked to this facility
4.What is the benefit to me from SMS Banking?
You get alerts on transactions at branch, through ATM or E-banking immediately as they happens. This enables you to know about any unauthorized access to your account.
5.Can I use my existing mobile phone to receive alert messages?
Yes. All types of mobile phones can be used to receive alert messages.
About Us :
Indo Zambia Bank was incorporated in October, 1984 is a joint venture between the Government of the Republic of Zambia and the Government of India represented through its three large public sector banks: Bank of India, Bank of Baroda & Central Bank of India.
Each contributing 20% share capital with the remaining 40% contributed by the Government of the Republic of Zambia which is currently held by Industrial Development Corporation(IDC).