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Meket 
Micro-Finance Institution

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(a)  General Information

Year of Establishment

1999

Legal Status

Meket Micro Finance Institution S. Co is registered legally by the National Bank of Ethiopia, according to Proclamation No.40/1996.

Current Operational Area (s)

Meket is operating in North Wollo Zone of the Amhara Regional State.

Future Expansion Plan

The Institution will continue operating in the Amhara Region. 

Total Number of Woredas Covered so far

One

Total Number of Branches Opened so far

One Branch with five sub-branches.

Total Number of Clients Served so far

2,298

Gender Sensitivity

Male clients = 55%, Female Clients = 45%

(b)  Loan Services/Products

• Agricultural Loan;

• Petty Trade loan;

Annual Lending Rate

20% for all loan types.

Loan Size and Loan term Per Loan Cycle and Loan Type

Loan Term and Grace Period

Loan Eligibility Criteria

Potential clients are expected to meet the following criteria:

• The poorest of the poor;

• Priority to women;

• Permanent residence of the operational area;

• No debt from other lenders;

Type of Collateral Needed

Group and Center collateral.

Some of the economic activities financed so far

• Agricultural activities;

• Petty trade;

• Handicraft.

Grace Period

It depends on the nature of the business to be financed.

Time needed to process and get loan

60 days for all loan types.

Business Plan Presentation

The following are the contents of the business plan;

• Name and address of the client;

• Type of business the loan is requested for;

• Number of loan cycle (for repeat borrowers);

• Profitability of the Business.

Loan Application Form

• The loan application form has the following basic contents:

• Clients Name

• Source and amount of monthly income;

• Address of residential area;

• Amount of loan requested.

Target Clients for Loans

Target clients are rural and semi-urban poor households.

Willingness to lend to new business start-ups such as high school dropouts, college graduates and similar groups

No

Frequency of Revising Institutional Financial Policies

On yearly basis.

(b)  Savings Products

(c)  Other Services

Pre-loan training to clients.

Service Out-let

Services of the Institution can be accessed through farmers’ associations in rural areas and through branch office in semi-urban areas. 

New products to be introduced during the coming 3-5 years

• Individual loan

• In-kind loan

• Individual saving

• Group saving

• Center saving.

Address

P.O.Box:  608, Bahir Dar, Ethiopia  

Telephone:  +251-1-620067/ ( 09) 110764/67 ext. 37

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