Mission and Vision 2020
Mission and Vision 2020
Mission and Vision 2020
2) ABOUT HP MICROFINANCE
HP MICROFINANCE aim is to improve the quality of life for families in Tanzania through the
provision of Microfinance; we are a microfinance organization offering products through group
and Individual lending targeting 80% Women and 20% Men micro entrepreneur around the
branch offices
The Company intends to reach out 7,000 poor families in Tanzania with microloans in the next
five years in Mbagala, Chanika, Gongolamboto and Kigamboni. HP Management philosophy is
to gain self sufficient within five years
HP Expects to empower the entire population of one million Tanzanians to move out of
Extreme poverty through strategic goals. As a Microfinance Institution, HP intends to increase
opportunities financial services for the poor to access financial services by providing financial
services to low income entrepreneurs.
TYPES OF LOAN
Individual loan
Interest 10%
Gharama za mkopo
Group loan
Micro loans for financing working capital to entrepreneurs in groups of ten or more
individuals, generally for business development.
Interest 10%
Gharama za mkopo
Group loans made available are generally for business development and therefore
expected to generate income in an existing business. A sample case of a group loan
would involve 5-20 business people, with experience working together, forming a loan
group and acting as guarantees to one another. The group receives training from a
Loan Officer, covering all areas of the company’s lending methodology, basic topics on
loan use, and business plan. This training also would cover all steps necessary in the
groups’ formation and procedures.
The initial amount of loan for every member in the group varies from Tshs. 50,000 to
200,000 and there is a maximum loan amount of up to Tshs. 1,000,000. The size of an
individual’s business determines the amount of the first loan. Subsequent loans may be
established, based on the customer’s repayment history, Loans can be made for a
period of one to three months, daily, with weekly, bi-weekly, or monthly payments.
Benefits
Group loans are reliable and processed quickly. Loan terms are flexible, affordable to
most low income earners and rural poor, and we offer a top up loan. Informal loan
security is accepted and repayment can be made through a variety of methods
It is the shorten loan product which is offered to private company employees, the objective of
the product is designed to meet employees short term financial needs with salary advance
repayable within 30 days