News / National
CBZ launches $10 million loan facility
19 Oct 2015 at 02:05hrs | Views
CBZ Bank head of business banking Molly Dingani said CBZ had decided to avail a $10 million national loan facility targeted at SMEs which were now the backbone of the economy.
Under the facility, individuals or companies can borrow up to $200,000 with a maximum repayment period of 24 months for capital projects and 12 months for working capital.
However the banking group's officials did not immediately disclose the coupon rate. The facility is part of a $46 million which CBZ received from PTA Bank early this year.
Meanwhile, ZB Financial Holdings (ZBFH) is floating $5 million agro bills to finance the 2015/2016 agricultural season.
The company's acting chief executive officer Shadowsight Chiganze said the paper has already been to pension funds and insurance companies.
The financial services company has in the past floated agro bills at different intervals that were fully subscribed. The $5 million and $10 million agro bills were fully subscribed.
Chiganze said the $5 million tranche has since matured and obligations to investors were fully settled out of repayments by farmers.
Under the facility, individuals or companies can borrow up to $200,000 with a maximum repayment period of 24 months for capital projects and 12 months for working capital.
However the banking group's officials did not immediately disclose the coupon rate. The facility is part of a $46 million which CBZ received from PTA Bank early this year.
Meanwhile, ZB Financial Holdings (ZBFH) is floating $5 million agro bills to finance the 2015/2016 agricultural season.
The company's acting chief executive officer Shadowsight Chiganze said the paper has already been to pension funds and insurance companies.
The financial services company has in the past floated agro bills at different intervals that were fully subscribed. The $5 million and $10 million agro bills were fully subscribed.
Chiganze said the $5 million tranche has since matured and obligations to investors were fully settled out of repayments by farmers.
Source - dailynews
