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.
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).
A single facility fee is charged upon approval of the loan.
Salary backed loan carries credit life insurance cover against death and permanent disability.
Applications may be done by the Company Human Resource Department or through any EFC branch.