We offer a wide range of loan products that are competitive and tailor made to suite the financial needs of micro, small and medium entrepreneurs.
Group Power Loan
Our Group Power loan provides finance for micro-entrepreneurs who have formed a community-based group of micro-entrepreneurs in their village or area. Kongalend group loan officers will help you form a group and explain what is involved. Group Power loans are designed to help your micro enterprise develop and grow. The loan must only be used for productive purposes, that is, for income generating activities and employment creation for both start-ups and existing businesses.
Group Power Loan
Eligibility
To qualify for a Group Power loan, you must be an active group member. This means attending meetings at your group centre and always abiding by group rules.
You must be a Namibian citizen, over 18 but not older than 65 years of age at loan entry.
You must not be listed on ITC.
Loan amounts and terms
Group Power loans are structured in three cycles, with a minimum loan amount of N$1,000 and maximum of N$15,000.
Loans are provided on a stepped-up basis to reward and encourage good repayment behaviour. Loan size Loan term
1st cycle: N$1,000 – N$5,000 6 – 12 months
2nd cycle: N$5,000.01 – N$10,000 18 – 24 months
3rd cycle: N$10,000.01 – N$15,000 36 months
Loan Security
You are required to make a contribution to the group Cash Security Build-up, determined on the amount you are applying for. This is payable once your loan is approved.
Guarantor: you must appoint a responsible person that you trust to act as your guarantor during the tenure of your loan, who is prepared to repay the loan on your behalf, should you fail to pay the loan.
All loans also include credit-linked insurance cover.
How to apply and required documents
Before you apply for a loan, you must have signed and understood the Kongalend Group Constitution, received training on group loan rules and conditions.
Application forms will be distributed at group meetings. Your application must be approved by the group before being submitted to Kongalend.
Copy of your Namibian ID
Copy of the ID of your guarantor
Three to six months’ bank/NamPost statements; and where possible, valid quotations from the supplier(s) of items to be financed with the loan.
Loan Repayment
Loan repayments are collected by the group treasurer from members, once monthly, at group meetings. The group treasurer or a trusted group member is delegated to deposit the total group loan repayment to Kongalend’s nominated bank account.
The Kongalend Loan Account Officer meets with the group on a monthly basis to collect loan payment receipts, reconcile payments and provide, attend to new loan requests and provide vital information to group members.
Lima Power Loan
Our Lima Power loan is designed to finance the acquisition of agricultural machinery and implements (inclusive of solar energy products), agricultural inputs, such as fertilisers, seeds, fuel and other working capital needs for land preparation, tillage, harvesting and marketing and transportation of crops, livestock trading and meat products. It is designed to support Income-generating agricultural activities and to finance the establishment and/or expansion of existing small-scale agri-businesses directed towards those practicing conservation agriculture methods.
Lima Power Loan
Eligibility
You must be a Namibian citizen, over 18 but not older than 60 years of age at loan entry.
You must provide proof of capacity to afford the monthly loan repayment. This can be from agri-business activities or additional, regular and verifiable income sources.
You must not be listed on ITC.
You must have a bank account (preferable a business bank account) so that we can collect your loan repayment by debit order.
You must be engaged in small-scale commercial agricultural activities, preferably using conservation agriculture methods.
Loan amounts and terms
Loan size: from N$5,000 to N$250,000
Loan term: from six to a maximum term of 60 months, depending on the amount.
Securitisation
We require a cash security build-up contribution of between 45-50% of the amount you are applying (depending on your business case) for which we hold as collateral, just in case you default on your repayment. This will of course be refunded to you once you have repaid your loan in full.
All loans also include credit-linked insurance cover.
How to apply and required documents
You can apply by completing a loan application form at any of our offices or download an application forms.
The following supporting documents must be handed in with your loan application:
Copy of your Namibian ID
Six months’ bank statements;
A simple business plan which should explain how you will generate income, etc; and
Valid quotations from the accredited supplier of machinery, equipment and inputs to be financed with the loan.
SMME Power Loan
Our SMME Power loan is designed to finance income-generating activities and employment creation, and to support the establishment and/or expansion of small and medium-sized business activities.
SMME Power Loan
Eligibility
To qualify for an SMME Loan, you must be a Namibian citizen, aged between 18 and 60 years at loan entry and actively running a small business.
The enterprise or activity for which the loan is applied must have been in existence for at least six months or be a start-up that is owner-driven.
You must not be listed on ITC and must provide proof of capacity to afford the monthly loan repayment to be generated from business or additional income sources.
You must have a business bank account from which all business-related transactions are conducted, permitting debit order collection for loan repayment purposes.
Applications for funding must be realistic in every aspect, to the point and business plans be logically prepared and down to earth. Click here for some simple guidelines of what to include in your business plan.
Excluded business activities: shebeens, gambling, cash loans and taxis.
Loan amounts and terms
Loan size: N$15,000 – N$250,000 per loan client.
Loan term: from six to a maximum of 48 months.
Securitisation
You are required to make a cash security build-up contribution determined on the loan amount you are applying for, to be held as collateral by Kongalend.
This is payable on approval of your loan and is refundable once you have repaid your loan in full.
You must appoint a responsible person that you trust to act as your guarantor during the tenure of your loan, who is prepared to repay the loan on your behalf, should you fail to pay the loan.
All loans also include credit-linked insurance cover.
How to apply and required documents
You can apply by completing a loan application form at any of our offices or you can download an application form
The following supporting documents must be handed in with your loan application:
Copy of your Namibian ID
Copy of the ID of your guarantor
Copies of your company documents
Six months’ bank statements of your business and your personal bank accounts
A short business plan detailing the exact use of the loan; and
Valid quotations from the supplier(s) of items to be financed with the loan.
Solar Power Loan
Our Solar Power loan provides finance to acquire renewable energy technologies, such as solar home systems, solar water pumps and solar water heaters.
This means that even if you don’t have access to grid electricity to power your daily life, you can light your home, keep food fresh in a solar-powered fridge, charge your cellphone, listen to the radio, watch television, explore the internet – and enjoy the difference this brings. If you are a farmer, a solar water pump will cost-effectively pump water to irrigate your crops and provide water for you and your family, your livestock and poultry.
People Power Loan
Eligibility
You must be an active group member. This means attending meetings at your group centre and always abiding by group rules. You must have progressed through the first three cycles of Kongalend’s Group Power loans and have an excellent repayment history. You must be a Namibian citizen, over 18 but not older than 65 years of age at loan entry. You must not be listed on ITC.
Product Features
People Power loans are structured in three cycles, with a minimum loan amount of N$20,000 and maximum of N$50,000.
Loans are provided on a stepped-up basis to reward and encourage good repayment behaviour
Securitisation
You are required to make a contribution to the group Cash Security Build-up, determined on the amount you are applying for. This is payable on approval on your loan.
Guarantor: you must appoint a responsible person that you trust to act as your guarantor during the tenure of your loan, who is prepared to repay the loan on your behalf, should you fail to pay the loan.
All loans also include credit-linked insurance cover.
How to apply and required documents
Before you apply for a loan, you must have signed and understood the Kongalend Group Constitution, received training on group loan rules and conditions.
Application forms will be distributed at group meetings. Your application must be approved by the group before being submitted to Kongalend.
Copy of your Namibian ID
Copy of the ID of your guarantor
Six months’ bank/NamPost statements; and
Where possible, valid quotations from the supplier(s) of items to be financed with the loan.
Accredited suppliers / installers
People Power Loan
Our People Power loan provides finance for micro-entrepreneurs who are members of a community-based group of microentrepreneus in their village or area and are graduates from Kongalend’s Group Power loans. The loan must only be used for productive purposes, that is, for income generating activities and employment creation.
SMME Power Loan
Eligibility
You must be a Namibian citizen, over 18 but not older than 60 years of age at loan entry.
You must provide proof of capacity to afford the monthly loan repayment. This can be from agri-business activities or additional, regular and verifiable income sources.
You must not be listed on ITC.
You must have a bank account (preferable a business bank account) so that we can collect your loan repayment by debit order.
You must be engaged in small-scale commercial agricultural activities, preferably using conservation agriculture methods.
Loan amounts and terms
Loan size: from N$5,000 to N$250,000
Loan term: from six to a maximum term of 60 months, depending on the amount.
Securitisation
We require a cash security build-up contribution of between 45-50% of the amount you are applying (depending on your business case) for which we hold as collateral, just in case you default on your repayment. This will of course be refunded to you once you have repaid your loan in full.
All loans also include credit-linked insurance cover.
How to apply and required documents
You can apply by completing a loan application form at any of our offices or download an application forms.
The following supporting documents must be handed in with your loan application:
Copy of your Namibian ID
Six months’ bank statements;
A simple business plan which should explain how you will generate income, etc; and
Valid quotations from the accredited supplier of machinery, equipment and inputs to be financed with the loan.