Our Products

Over the years VIRL developed a number of loan products that are delivered through the Community Banking Methodology for micro enterprises and the Individual Lending Methodology to SMEs.

The Market Segments that are serviced:

Segment Loan Sizes Lending Methodology
Micro Enterprises $300 to $ 3000 Individual/Group Lending
Small Businesses From $3,001 to $10,000 Individual Lending

Loan Products

  • Agricultural loans– This is the Agricultural loan including Inputs Loans and targeting small holder farmers
  • Life Enhancement Loans– This is the Life Enhancement loan to cover short term needs such as medical expenses, education, emergency loans, household needs.
  • Assert Finance – Work Smarter not harder. Assert finance enables you to automate your business production and improves efficiency.
  • Working Capital Loans – This loan targets all other business/commercial activities in the various sectors of the economy, outside agriculture, designed to grow business and assist with such things as restocking and daily business activities..

Loan Tenor

  • 1 to 12 months depending on the loan type and on the cash flows of the business.

Required Documents

  • Signed Application form stating the amount required, period, purpose and proposed collateral .
  • Copy of ID or Driver’s Licence or Valid Passport.
  • One Passport Size Photograph.
  • Proof of residence – (not more than 3 months old).
  • Business records (Sales records or receipt books for the last 6 months and details of stock on hand and any other business information).
  • Bank statements for the past 6 months.
  • Business Licences and Council Licences for corporate clients.
  • Letter from employer confirming employment status.
  • Guarantor particulars.

NB: We do not finance start-up businesses, but those which have been running, with documented evidence and records, for at least 6 months

Security

This depends on the customer segment and amount borrowed and takes the form of:-

  • Pledge/Cession of household goods.
  • Title Deeds or Motor Vehicles.
  • Livestock.
  • Third party guarantee.
  • Group Guarantee.

N.B Collateral will depend on the amount to be borrowed.