GroFin Loan for SMEs Application are meant for entrepreneurs and business owners that want to grow their existing business or start a new business. They are committed to their business and need an understanding financier that is prepared to work with them to grow their ventures.
We have a proven track record of helping entrepreneurs and business owners like you to start or grow successful businesses. We realise that you not only require longer-term finance to grow your business, but also active Business Support for long-term sustainability.
See how Isabelle Uzamukunda, the owner and managing director of Agasaro, benefitted from GroFin’s finance and business support to purchase new packaging machines and increase Agasaro’s sales and staff complement while supporting her community in the process.
Business Loan with GroFin Support – GroFin Loan for SMEs
1. Business loans to meet SME growth challenges
Structured SME loans that provide you with the required capital to meet your current business’s needs or to help your business overcome its future growth challenges.
2. Business support for sustained business growth
Tailored business support services delivered by an experienced investment team that helps you face on-going business challenges to ensure the long-term success of your business.
3. Market linkages to expand and stay competitive
Use our network of successful clients and global business partners to help expand your business into new markets and obtain the tools and training required to stay competitive.
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Investment Criteria – GroFin Loan for SMEs
1. Countries Supported
Your business operates in countries where we have an office: Kenya, Uganda, Tanzania, Rwanda, Ghana, Nigeria, Ivory Coast, Senegal, South Africa, Zambia, Egypt, and Oman. For Iraq and Jordan, please visit Northern Iraq Investments, Nomou Iraq Fund (Southern Iraq), or Nomou Jordan Fund.
2. Loan Amount
You require medium-term loan capital for your business: between US$100k and US$1.5m for a loan duration of 3-8 years (US$100k and US$2m in Iraq and Jordan) in local currency equivalent.
3. Business Operations
You have an established business: operating for 2-3 years and has an annual turnover of 1.5 times the loan amount. We do consider startups on a case-by-case basis.
4. Business Sectors
Your business operates in one of our preferred sectors: Education, Healthcare, Agri-Processing, Manufacturing, or Key Services (Energy / Waste / Water / Recycling). Other sectors can be considered on a case-by-case basis.
5. Collateral Requirements
GroFin Loan for SMEs – We expect entrepreneurs to (partly) secure the loan. Personal guarantees of the entrepreneur(s) are required.
6. Economic Impact
Your business is making a positive social and economic impact: E.g. Creating Jobs, Sustaining Livelihoods, Empowering Women, Benefiting the Environment.
HOW IT WORKS – GroFin Loan for SMEs
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APPLY FOR FINANCE – GroFin Loan for SMEs
Step 1
Our investment team reviews your submitted online assessment form against our investment criteria and informs you if we are able to proceed with your application.
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GET A BUSINESS CHECK-UP
Step 2
If you qualify, your Investment Manager contacts you and helps complete your application by conducting an assessment of your business, highlighting key risks and opportunities to make your business investment-ready.
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LOAN APPROVAL – GroFin Loan for SMEs
Step 3
Your application is submitted to a committee for review. Upon approval, your application will result in an offer that will be documented in a formal letter to you.
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DISBURSING OF FUNDS
Step 4
Upon your formal acceptance of our offer, we proceed with disbursing funds to your business.
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ON-GOING BUSINESS SUPPORT – GroFin Loan for SMEs
Step 5
We provide you with continuous value-adding business support focusing on your business’s needs. Our support is designed to enhance the success of your business while helping you implement your business plan.
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GROW YOUR BUSINESS
Step 6
On payment of your final installment, our formal involvement with your business ends. The final settlement is a good time to review your business plans and discuss any further finance and support needed in keeping with your future growth requirements – GroFin Loan for SMEs.
How to Apply – GroFin Loan for SMEs
