How to start

• Be willing to form a group of 2 – 5 persons of your own choice and guarantee repayment of all loans for the group as a whole. (Only two family members operating different businesses are allowed in the same group)
• Live or work in the same area/s as other members of your group.
• Choose a group Leader and a Treasurer.
• Contact MEFL and give your group name, contact numbers and addresses to our Field Loan Officer, who will make an appointment to visit the group.
• Interest rate starts at 1% per week add-on and can reduce to .625% per week based on clients repayment record and cumulated savings (conditions apply).
• All clients must attend business development training.
• No deposit is required for group loans unless the first loan exceeds $25,000 cash (conditions apply).

 Group Loans

Solidarity Group Lending helps clients who have unregistered businesses, no form of business records and no on eto co-sign as guarantor and aare willing to work together, learn from each other and borrow together.

Individual Loans - Existing Clients

• Existing clients accessing group loans can graduate to individual loans, after receiving three group loans and have maintained an excellent repayment record. Payment can be made weekly, forthnightly or monthly.
• Existing client must have accumulated 25% of the loan amount being requested in savings to qualify (conditions apply).

Individual loans - New Clients
Our loan amount and loan terms                                                  Back