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    CDF Loan Agreement Form PDF

    Uploaded by

    Fredro
    This document outlines the terms and conditions of a loan agreement between a lender and borrower in Zambia. The lender agrees to provide a loan of [Amount] to the borrower for purposes of starting a business. The borrower accepts the loan under the following terms: 1) The repayment period is [Time Period] months. 2) Repayments will be made monthly on a set schedule at a 5% interest rate. 3) Any equipment purchased with the loan will remain under the lender's ownership until full repayment. The agreement is signed by both parties and witnessed in accordance with the stipulated process.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    CDF Loan Agreement Form PDF

    Uploaded by

    Fredro
    454 views3 pages
    This document outlines the terms and conditions of a loan agreement between a lender and borrower in Zambia. The lender agrees to provide a loan of [Amount] to the borrower for purposes of starting a business. The borrower accepts the loan under the following terms: 1) The repayment period is [Time Period] months. 2) Repayments will be made monthly on a set schedule at a 5% interest rate. 3) Any equipment purchased with the loan will remain under the lender's ownership until full repayment. The agreement is signed by both parties and witnessed in accordance with the stipulated process.

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    Employment boosheet

    Original Title

    CDF Loan Agreement Form pdf

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    This document outlines the terms and conditions of a loan agreement between a lender and borrower in Zambia. The lender agrees to provide a loan of [Amount] to the borrower for purposes of starting a business. The borrower accepts the loan under the following terms: 1) The repayment period is [Time Period] months. 2) Repayments will be made monthly on a set schedule at a 5% interest rate. 3) Any equipment purchased with the loan will remain under the lender's ownership until full repayment. The agreement is signed by both parties and witnessed in accordance with the stipulated process.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    454 views3 pages

    CDF Loan Agreement Form PDF

    Uploaded by

    Fredro
    This document outlines the terms and conditions of a loan agreement between a lender and borrower in Zambia. The lender agrees to provide a loan of [Amount] to the borrower for purposes of starting a business. The borrower accepts the loan under the following terms: 1) The repayment period is [Time Period] months. 2) Repayments will be made monthly on a set schedule at a 5% interest rate. 3) Any equipment purchased with the loan will remain under the lender's ownership until full repayment. The agreement is signed by both parties and witnessed in accordance with the stipulated process.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    REPUBLIC OF ZAMBIA

    CONSTITUENCY DEVELOPMENT FUND (CDF)


    LOAN AGREEMENT FORM
    This LOAN AGREEMENT, is made this ---------- day of ----------- 20----, between
    ----------------------------------------------- (hereinafter known as “BORROWER”) of address: ------------------------
    ------------------------------------------------------------------------------------------------------- in Ward
    _____________________ Constituency __________and__________________ (hereinafter
    known as “LENDER”).
    The LENDER and BORROWER shall collectively be known herein as “Parties.” In determining
    the rights and duties of the Parties under this LOAN AGREEMENT, the entire document must
    be read as a whole.
    The Lender agrees to give loan funds/material/equipment worth K--------------------
    ---------------------- On loan basis to the Beneficiary for purposes of venturing into------------------------
    -------------------------Business as contained in the application form.
    Therefore, the Beneficiary accepts the Terms and Conditions of the said loan amounting to
    -------------------------------------------------------------------------------- (Amount in Words) ------------------------------------
    -------------- (Amount in Figures) at 5% minimal simple interest rate.
    LOAN TERMS AND CONDITIONS
    The BENEFICIARY and LENDER hereby set further forth their rights and obligations to one
    another under this LOAN AGREEMENT and agree to be legally binding as follows: -
    a) Payback Period
    The payback period for the loan shall be …………………………………..months.
    b) Loan Repayment
    i. The first payment shall be 60 days from the date of getting the loan;
    ii. The subsequent instalments shall be paid at the end of the month;
    iii. Delayed payments shall not exceed 5 days after the end of the month; and
    iv. Payments made after 5 days shall attract a charge 2% of the instalment amount
    c) Repayment Method
    The Borrower shall deposit the loan repayment by way of monthly instalments through;
    i. Bank Account……………………………………………….......
    ii. Mobile Money…………………………………………………….
    iii. E-Wallet……………………………………………………………..
    The Borrower shall be responsible to ensure that repayments are made to the correct
    Bank Account or Mobile number.
    d) Ownership of Equipment and Machinery using this Fund:
    i. All Equipment and Machinery bought using this facility shall be vested in the name of
    the LENDER;
    ii. All Equipment and Machinery bought using this facility shall be registered in the name
    of the Local Authority; and
    iii. Ownership shall NOT be transferred to the LOAN BENEFICIARY until the loan amount
    is fully paid.
    e) Repayment for Equipment:
    i. The first payment shall be made 60 days from the date of getting the loan;
    ii. The subsequent instalments shall be paid at the end of the month;
    iii. Delayed payments shall not exceed 5 days after the end of the month;
    iv. Payments made after 5 days shall attract a charge 2% of the instalment amount;
    v. Neglecting to pay the loan instalments for any reason for three consecutive months,
    shall result in termination of the agreement;
    vi. Following the termination of the agreement:
    a. The equipment shall be recovered from the borrower within seven (7) days;
    b. The borrower shall forfeit the initial deposit and other payments made before the
    termination of the agreement; and
    c. The borrower shall be blacklisted on the Constituency list for 5 years.

    SIGNED BY………………………………………………………………... (Name)


    (FOR AND ON BEHALF OF THE FINANCIAL INSTITUTION)
    Full Name of Financial Institution: ………………………………………………………………………………

    Date: …………………………………………………………………………………………..

    Signature:

    Position………………………………………………………………………………………

    1. IN THE WITNESS OF:

    Full Name: ……………………………………………………………………………….…

    Date: ………………………………………………………………………………………….

    Signature: ………………………………………………………………………………….

    Designation: ………………………………………………………………………………

    2. IN THE WITNESS OF:

    Full Name: ………………………………………………………………………………

    Date: ………………………………………………………………………………………

    Signature: …………………………………………………………………………………

    Designation: ………………………………………………………………………………

    SIGNED BY…………………………………………………………………………… (APPLICANT)

    Full Name: …………………………………………………………………………….

    Date: ………………………………………………………………………………………..

    Signature: …………………………………………………………………………….

    1. IN THE WITNESS OF

    Full Name: ………………………………………………………………………………..

    NRC Number:

    Date: ………………………………………………………………………………………....

    Signature:

    Designation:

    Ward Development Chairperson/Area Councillor

    2. IN THE WITNESS OF

    Full Name: ……………………………………………………………………………….

    NRC Number:

    Date: ………………………………………………………………………………………….

    Signature:

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