{"id":24658,"date":"2021-03-08T18:59:43","date_gmt":"2021-03-08T18:59:43","guid":{"rendered":"https:\/\/www.africa-press.net\/tanzania\/?p=24658"},"modified":"2021-03-08T18:59:43","modified_gmt":"2021-03-08T18:59:43","slug":"faidika-microfinance-allots-50bn-to-lend-to-eligible-tanzanians","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/tanzania\/economy\/faidika-microfinance-allots-50bn-to-lend-to-eligible-tanzanians","title":{"rendered":"Faidika Microfinance allots 50bn\/- to lend to eligible Tanzanians"},"content":{"rendered":"<p><strong>AfricaPress-Tanzania:<\/strong> THE Dar es Salaam-based Microfinance institution, Faidika has allocated over 50bn\/- for lending to government employees and certified institutions<\/p>\n<p>Speaking yesterday,\u00a0\u00a0Faidika\u2019s\u00a0\u00a0Chief Executive officer Baraka Munisi said the borrowers are able to be granted processed loans within three days after complying with the set terms and conditions.<\/p>\n<p>\u201cAll you have to do to qualify for a\u00a0 loan is to produce your employer\u2019s Identification, one passport-size photograph,\u00a0\u00a0 your latest one-month salary slip,\u00a0 and your bank account statement at least for the past two months,\u201d said Munisi.<\/p>\n<p>He explained that Faidika has decided to allocate that relatively huge sum of money aiming at improving the living conditions of Tanzanians.<\/p>\n<p>Munisi said under the new lending scheme,\u00a0 Faidika is able,\u00a0 willing, and ready to issue loans ranging from\u00a0 200,000\/-\u00a0 to\u00a0 70m\/- to lend to eligible Tanzanians, and repayment in full is made from within 6 to 84 months, depending on the size of the loan.<\/p>\n<p>He also said that Faidika has reduced the interest rate to 3% only which is very low when compared to other microfinance institutions and has increased repayment period to provide relief to their customers and improve their lives.<\/p>\n<p>\u201cFaidika Microfinance believes that everyone deserves access to financial products and services,\u00a0\u00a0\u00a0\u00a0 therefore by using some of the available sophisticated technology systems, we are committed to reaching all\u00a0 Tanzanians with a\u00a0 view to improving their lives,\u201d\u00a0 Munisi said, brimming with confidence.<\/p>\n<p>He went on to say that, Faidika will provide a top-up loan to its customers as well as buying loans from other financial institutions while offering a new loan at a low-interest rate which is three (3) percent.<\/p>\n<p>Munisi said the benefit of a loan is to enable Tanzanians to improve their lives in the areas of education, health, and agriculture.<\/p>\n<p>He said they also, issue special discounted loans to the members who meet their criteria and conditions.<\/p>\n<p>Apart from that Munisi also said that repayment of loans are canceled if and when a\u00a0 debtor dies.<\/p>\n<p>In addition to this,\u00a0 Faidika\u00a0 Microfinance will provide up to 200, 000\/- to the late borrower\u2019s family by way of condolence.<\/p>\n<p>\u201cOur institution aims to continue with improving the lives of Tanzanians.\u00a0 We, therefore, urge all eligible citizens to undertake these great opportunities,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>AfricaPress-Tanzania: THE Dar es Salaam-based Microfinance institution, Faidika has allocated over 50bn\/- for lending to government employees and certified institutions Speaking yesterday,\u00a0\u00a0Faidika\u2019s\u00a0\u00a0Chief Executive officer Baraka Munisi said the borrowers are able to be granted processed loans within three days after complying with the set terms and conditions. \u201cAll you have to do to qualify for [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":24649,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[4463,5648],"class_list":["post-24658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-baraka-munisi","tag-faidika-microfinance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - 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