Salary Backed Loans

Entrepreneurs Financial Centre (EFC) introduces the Salary Backed Loans to cater for the formal Sector. The Salary Backed Loan is available to, Non- Governmental Organizations and Private Companies, and allows you to sign an MoU with EFC to offer your staff loans. It is convenient, easy to arrange and completely hassle-free as financial assistance is brought to an employee's doorstep.

On the scheme loan you get:

  1. Quick approval process
  2. Loan amounts ranging from ZMW3,000 to ZMW150,000
  3. Flexible repayment period ranging from 3 months up to 36 months
  4. Competitive interest rates
  5. Convenience of not having to plan for repayment every month - repayment is off payroll
  6. Easy and convenient application process

Easy and convenient application process.

Credit-worthy salaried employees working for selected employers who have signed a memorandum of understanding (MoU) with EFC and are at least 18 years of age and a maximum of 60 years for private sector employees and 65 years for professionals (lawyers, judges, medical doctors and university lecturers).

What fees are charged?

A single facility fee is charged upon approval of the loan.

Is there insurance cover?

Salary backed loan carries credit life insurance cover against death and permanent disability.

How to apply?

Applications may be done by the Company Human Resource Department or through any EFC branch.

What documents are needed?

  1. Proof of identity (national registration card, valid passport or valid driver's license)
  2. Filled in application form
  3. 2 passport size photos
  4. Certified copies of 3 months latest pay slips
  5. Proof of employment
  6. Contract of employment, where applicable
  7. Valid work/residency permit for expatriates, where applicable


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