IZWE Loans: Microfinance has gained immense positive publicity after was identified as one of the major means of alleviating poverty and improving income conditions of the lower segment of the society. Microfinance is all about lending small amounts of money with soft terms so that the debtors can improve their living conditions by either setting up a small business, learning new skills and eventually get employed or by relocating to greener pastures.
IZWE was established in 2004 and has since been working on improving society through the use of micro financing and the distribution of credit through its well-established banking channels. The loans available through IZWE’s micro financing scheme have an upper threshold of R20,000 payable over a maximum of 3 years.
The main beneficiaries of this scheme are likely to be individuals who reside in the rural areas, however, urban South Africans, who are looking to start small businesses for extra cash can also qualify. Due to the nature of the target market, there is no collateral required either.