Dar Es Salaam — THE National Microfinance Bank in collaboration with Small Industries Development Organisation (SIDO), Business Development Gateway (BDG) and Enablis Entrepreneurs in Tanzania have announced a partnership in providing loans to entrepreneurs.

The entrepreneurs will be able to access loans branded as NMB Juhudi loans from NMB to facilitate their business.

This was announced by NMB Chief Commercial Officer Kees Verbeek at the bank's pavilion at the just ended 34th DITF at Mwalimu Nyerere Trade Fair Grounds along Kilwa Road in the city.

The facility involves small loans to micro and small entrepreneurs with the purpose to expand small and sustainable businesses.

The beneficiaries of the scheme can enjoy lower interest rate with a discount of three per cent from the normal interest rate charged by the bank.

Whereas the bank will provide loans from 5m/- to a maximum of 500m/-, the partner organizations will support entrepreneurs in other areas of development.

They shall help entrepreneurs with business skills development, business plan writing, business management skills, financial management, business registration and after care services, according to Mr Veebeek.