Our Products/credit solutions are tailor made uniquely according to each client’s business.
The nature of the business and the cash-flows of the business are the key determinants in the way a loan is structured for the client.
We don’t force a client to choose from a catalogue of products, instead we listen to the client , understand the client’s business and tailor-make the loan to meet the specific needs of the business.
We are specialists in two things :
1.) Listening to the client
2.) Designing client specific credit solutions.
We consider ourselves to be Micro Business Loan Architects, for us lending is not a one size fits all, rather each business is unique and requires tailor made credit solutions.
Product Design
In our interaction with various business owners we have come to an understanding that micro-businesses have varying needs; each business’ cashflows are unique and similarly each business’ credit needs.
So each product we design is a solution to each business’ unique characteristics: the tenure, loan amount and interest rate are structured based on a unique understanding of each business. This is why MoneyMart is a like a supermarket for financial solutions, we have bespoke solutions to meet different needs.
Loan Tenure
In the micro-business space the need for credit is tied to both the business and the business’ owners households- there is usually no separation between business and owner. Therefore loan tenures vary according to the intended purpose of the business or the owner of the business- loan tenures can be anything from one day to one year. Client could require a loan to fund a specific order which can be repaid back the following day while another may intend to start a project with a tenure of3 months and a loan can be paid in one week.
Loan Amounts
We start our loans from as little as $25 up to $1,500.The average loan amount is between $175 and $200.
Interest Rates
Interest rates are controlled by the Reserve bank of Zimbabwe.The effective lending rate for Micro- Finance institutions in Zimbabwe should not exceed 10% per month.
Loan Repayments
Loan Repayments matched to Business Sales & Cash-Flows and they range from daily, weekly, monthly or once-off repayments depending on the business’ cashflows:
Our standard products
Daily Repayment Loan
For Clients with Daily cash-flows
- Daily Repayments
Fixed monthly Interest not exceeding 10% per month or 0.5% a day. - Equal Fixed Repayments made daily
e.g. $50 Principal; Interest@10%=$5; Total Repayable=$50; Daily Repayment=$2.50
Weekly Repayment Loans
For Clients with Weekly cash-flows
- Weekly Repayments
Fixed Interest not exceeding 10% monthly or 0.5% a day. - Equal Fixed Repayments made over 4 Weeks/1 Month (Fixed Tenure) e.g. $50 Principal; Interest@10%=$5; Total Repayable=$55; Weekly Repayment=$13.75
Monthly Repayment Loans
For Clients with monthly cash-flows
- Tenure from 1 month up to 12 months
Monthly Repayments - Fixed Interest not exceeding 10% per month.
Equal Fixed Repayments made monthly
Bullet Repayment Loans
For Clients with Monthly cash-flows
- Bullet once off Repayment
Fixed Interest @10% monthly - ONE Payment made after One month
e.g. $50 Principal; Interest@10%=$5; Total Repayable=$55; Bullet Repayment =$55
For Customised Solutions speak to us on.
Harare Telephone: +263 04-770525
Mutare Telephone: +263 (220) 202022161
Mbare Telephone: +263 (4) 748 180
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