TYPE OF PRODUCT – The Loan product being proposed is a Project Finance Loan targeting MSMEs and
Cooperatives with focus on ICT Innovations and Creative Art
PROJECT TYPES -Creative works such as painting, sculpture, dance, theatre, music composition, music
performance, movie production, designing, media, video gaming, advertising, animation etc.
On the other hand, Information Communication Technologies (ICTs). ICT Innovation which are viable and that
attempt to solve current challenges relating to the following sectors of the economy;
i. Digital Financial Services
v. Climate Change, Water and Sanitation
vi. Health, including responses to COVID-19
vii. Road Safety.
TARGETED MSMEs PER PROVINCE – It is envisaged that through this product 1,000 MSMEs and Cooperatives
in ICT and Creative art with viable and established businesses across the country will be empowered every year.
The Commission is expected to empower 50 MSMEs and Cooperatives in Creative Arts and ICT with affordable loan
facilities in each province every year
MAXIMUM LOAN AMOUNT – The maximum loan amount will be K2, 000,000.00
COLLATERALL REQUIREMENT- The Commission will accept movable and immovable assets as collateral. This
will include; machinery/equipment, company stock, motor vehicles and account receivable
LOAN INTEREST AND TENOR
This is an affordable, competitive, easily accessible product with a flexible repayment plan. The loan will attract
Twelve (12%) percent interest and maximum loan tenure which shall be sixty (60) months.
Eligibility of beneficiaries shall be based on the following;
Must be an MSME or cooperative operating in Zambia
Beneficiary must be a Zambian Citizen with a Green National Registration Card
For Business Names and Limited Companies, one must be a registered company with a PACRA
certificate of incorporation
For Cooperatives, one must be registered with Department of Cooperative.
Must provide sufficient collateral to secure the loan being applied for.
Must have a ZRA Tax Payer Identification Number (TPIN)
Only Online application form will be accepted. . CLICK HERE TO DOWNLOAD FORM. The deadline is 23 rd September