FINCA Malawi has launched the EduSmart Back to School Promotion Loan, an initiative designed to provide financial support to customers, educational institutions, and students.
The loan facility offers minimal collateral requirements and is available to all customer segments.
Speaking on Friday during the launch, Marketing Manager Takondwa Chirwa encouraged FINCA customers to take advantage of the loan.
“This loan will help our customers manage their business performance and educate their children easily,” Chirwa said.
“For a long time, our customers have been using loans intended for business to educate their children, affecting their business performance and loan repayment schedule.”
The EduSmart Back to School Promotion Loan offers various prizes, including MK100,000 vouchers for three people every month, MK300,000 for fees to one person every month, and MK500,000 for a school institution in the last month.
The promotion runs from January 10 to February 28, 2025. According to Chirwa, the loan has lower interest rates, and customers can access any amount required.
The loan can be accessed by parents who are employed as payroll loans, and those in business can access it either in groups or as individuals. One of the customers, Steve Damiano, expressed gratitude for the loan.
“This promotion offers an opportunity to provide quality products to my customers, and it will allow my children to access high-quality education since I will be able to send them to good institutions,” Damiano said.
The EduSmart Back to School Promotion Loan is part of FINCA Malawi’s efforts to support education financing in the country. The institution plans to support over 300 schools nationwide through this initiative.
