DAWN Individual Loans are for individual small business owners experienced in running a successful wholesale or retail shop, restaurant, service centre, production facility or other similar businesses.
General Terms and Conditions:
Loan amounts from MMK 3 million to MMK 10 million
Loan terms from 6 to 24 months, depending on type of loan
28% per annum or 2.33% per month interest rate
Fees equivalent to 2% of approved loan amount including social welfare and credit life fund
Monthly principal + interest payments
Compulsory savings equivalent to 5% of loan amount. 14% per annum or 1.167% per month savings interest.
1 or 2 guarantors, depending on loan amount.
22-61 years old
Valid NRC and household registration
Valid business license
At least 2 years’ experience in the same activity and 1 year in the same business location
Exclusively for existing clients. DAWN offers a Voluntary Savings Account that is fully protected, always available and pays a higher interest rate than banks – 10% per annum. MMK 5,000 minimum deposit and minimum balance for Group Loan clients. MMK 10,000 minimum deposit and minimum balance for Individual Loan clients.