DCB Commercial Bank loan facilities have proved to be an effective instrument in empowering Small and Medium Enterprises (SMEs), thus contributing significantly in the efforts to lift the masses from abject poverty.
This was said yesterday in Dar es Salaam by the DCB Bank Manager for Product Development and Marketing, Mr Prochest Kachenje, in the just concluded, Dar es Salaam International Trade Fair (DITF).
"The bank possesses variety of loan facilities that suit different groups of people, and has contributed immensely in creating sustainable source of incomes to once impoverished families," he said.
For example, the Solidarity Group Loans (SGL) has proved to be the most efficient loan facility that has reached the low income earners and managed to boost their incomes.
The SGL is the process of advancing loans of small amount with its security which is based on group guarantee of five people with weekly regular repayments and deposits.
He said the purpose of the loan is to provide finance for supporting economic activities of households and youth in the informal sector, small and medium enterprises with potential for creation of employment.
Another category is the individual commercial loan which he said is the business loans facility that targets small and medium loan amount with regular repayments and principal balances between 500,000/- and 800m/-.
No comments:
Post a Comment