Mehwar Loan Process

Mehwar Islamic Microfinance approves loans after following specific eligibility criteria, conducting social and business appraisals of potential beneficiaries, and enlisting guarantors for loan disbursement.

Eligibility Criteria for Loans

The eligibility criteria for anyone interested in applying for a loan is:

• An applicant should have a valid CNIC.
• An applicant should have a valid CNIC and be between 18 – 62 years of age.
• The ability to expand/initiate business activity
• An applicant should not be convicted of any criminal offense regardless of which proceedings are in progress.
• An applicant should have good social and moral character in his community.
• An applicant should have the capacity to provide two guarantors other than family members.
• An applicant should be a resident of the operational area of the branch office which might be around a 5 KM radius

Note: Additional documents may be required according to the project’s requirements.

Documents for Loan Application

The following documents shall be submitted along with the loan application:

• Latest Utility Bills Applicant (Mandatory) Family Member (Optional) Guarantors (Mandatory)
• Latest Photos Applicant (Mandatory)
• Copy of Nikahnama Applicant (Mandatory) (may be waived if not available after verification by other means)

Note: Additional documents may be demanded according to the project’s requirements

Steps

1. Programme Introduction
2. Application Submission
3. Social Appraisal
4. Business Appraisal
5. Second appraisal
6. Guarantors of loans
7. Loan Approval Committee (LAC)
8. Loan Disbursement
9. Recovery Deposit
10. Monitoring