The SCHOOL ASSET product targets PRIVATE schools that have a good business cash flow for the school and credit history with any other financial institutions. FANIKIWA will not finance startups schools due to high risks associated with these enterprises. Loan amounts can range from TZS 1,000,000 to TZS 50,000,000, with repayment periods of 3 to 12 months.

The following are the features and requirements of School Asset loans:

• School Owners Must be Tanzanians and aged 20 years old and above.
• Schools must have been in operation more than 1 years after official registration.
• School owners must be willing to provide personal guarantees and properties as main collateral.
• Registered private schools within branch operating zone.
• Well performing schools in the district or region.
• Have a registration certificate with Ministry of Education & culture, certificate of incorporation and TIN.
• Show proof of ownership by providing all necessary documents.
• Provide Bank Statement (s)for minimum of 6 months for accounts where students pay school fees 27.
• Must have minimum pupils of 100 and operating profitably with positive surplus enough to meet loan installments from various lenders obligations as they fall due, in addition to meeting operating expenses.
• Schools operate in its own building not rented (If rented must be on the same building for not less than 1year) But this is for loans less than 10M.