The application that gets an answer fastest is the complete one. Most delays come from something missing: a document, a figure, a question nobody asked. A little preparation before you visit a branch saves a second trip.
1. Gather your documents
For a salary-based loan, bring a valid national ID and your latest payslip. For an SME loan, also bring your company documents and financials. Keep them together in one folder so nothing is left on the kitchen table.
2. Know exactly what the money is for
“Stock for the December rush” or “Term two school fees” is a better starting point than a round number. A clear purpose helps you borrow the right amount: not so little that you come back in a month, not so much that you pay interest on money you did not need.
3. Work out what you can repay
Look at what is left over each month after your essential costs. A repayment should fit comfortably inside that figure, including in a quieter month. If it only fits when everything goes right, it is too big.
4. Ask for the total cost, not just the instalment
A low monthly instalment can hide a long term and a large total. Before you accept any loan, from any lender, ask for three figures in writing:
- the interest,
- every fee, and
- the total amount you will repay.
Then ask what happens if you want to settle early, and what happens if you miss a payment.
5. Check the lender is licensed
In Zimbabwe, microfinance institutions are licensed by the Reserve Bank of Zimbabwe, which publishes its register of licensed lenders. A lender that cannot point you to its licence is a lender to walk away from.
Not sure you have everything? Our “Before you apply” checklist on the homepage lists what to bring, and you can call or WhatsApp us before you visit.
