SME Banking
Your business partner
SME Spark loan
This loan is specially designed to meet quick cash flow needs for SME customers. We offer very easy terms and a maximum repayment period of 18 (eighteen) months. Customers can borrow up to TZS 50 million.
Features:
• Quick working capital credit of up to USD 25,000 at affordable interest rates
• Short term financial solutions to a maximum repayment time of 18 (eighteen) months
• Unique financing package specifically designed to address peculiar needs of SMEs
• Structuring the deal comes first and security/collateral comes later.
Benefits:
• Growth of your small business
• Quickest way of getting credit from the bank
• Addresses different financial requirements such as: contract financing, payment of taxes, invoice discounting, stock financing & short term working capital needs
• Maximum repayment period of 18 (eighteen) months but we can structure the repayment period to fit your exact need
• Simplest & most affordable means of obtaining capital by business entrepreneur
SME Extra loan
This is a comprehensive package of services offered to support the growth and sustainability of businesses that have graduated from SME Spark i.e. evidence of business growth and credibility are visible. Through this product, we empower SMEs by giving them easy access to financing of up to TZS 100 million and making banking services much more convenient and affordable for them.
Features:
• Maximum loan amount of USD 60,000
• Maximum loan period of 6 months
Requirements:
• Proforma invoices for proof of importation
• All shipping documents to be consigned directly to the Bank
• Proof of reasonable demand for the goods/established operation
Products and Services
BANK OF AFRICA TANZANIA enforces management standards and policies in the areas of ethics, anti-money laundering, conflict of interest and corporate governance.