A. MEC Loan

This product is based on modified Grameen model.

• To be eligible, a client must join a self-selected solidarity group guarantee of 5 members called Enterprise Group
• 10 Solidarity groups combined into one large group of 50 called a market enterprise group (MEC), for ease administration and enhancement of group mechanism.
• Peer pressure and a three tier loan guarantee system to ensure loan repayment
• Weekly meeting lasting for a maximum of 1 hour
• Compulsory weekly savings as part of loan insurance scheme and refundable upon exit
• Access to a loan is subject to minimum loan insurance balance amount to 25% of loan amount except for the first loan cycle.
• Loan cycle ranges from Tshs 100,000 to 1.0M
• Involvement of the client in the administration of the program through elected leadership.
• Half yearly bonus payout on compulsory savings

B. Fahari Loan Product

• Solidarity group of three to five self selecting from among MEC loan clients
• Monthly loan repayment
• Near collateral items pledged as additional guarantee to reinforce security supported by formal legal agreement
• A client may select a variable loan term from 6 to 24 months
• Half yearly bonus payout on compulsory savings
• Meetings lasts only 20 minutes
• Loan cycles ranges from Tshs 2M to 15M

         C. Ajira Loan Product

• The product is targeting employees in the government and other reputable organizations.
• Employers guarantee their employees.
• Less than a week processing time
• Loan sizes range from Tshs 100,000 to TShs. 15Million or 15 times gross salary
• No requirement for meetings at PRIDE offices

D. Wholesale Lending

PRIDE Tanzania has entered into a strategic alliance with IFAD sponsored Rural Financial Services Programme based in Mbeya to provide access to financial services for the rural areas. The modality for collaboration with RFSP involves the provision of loans to rural based microfinance institutions such as SACCOS and SACAS, which in turn would lend the funds to their members.

• The product is targeting registered SACCOS
• Board members guarantee the loan.
• Less than a week processing time
• Loan sizes range from Tshs 10 million –50 million
• Competitive interest rate
• Flexible loan term between 6 –12 months