EFC School Improvement Finance

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EFC School Improvement Finance is a product that offers credit to private school proprietors to help them expand their activities and improve the learning environment.

It can be utilized for the following;

  • Construction of extra buildings
  • Spot improvements such as plastering, painting, or tilling
  • Acquisition of movable fixed assets such as ICT and Science equipment
  • Working capital needs such as payment of teacher’s salaries and any other school-related expenses during the course of the school term

Product Features

  • Negotiated processing fees 0.5%.
  • Affordable interest rate as low as 12% per term on outstanding balance.
  • A dedicated, trained and knowledgeable Relationship manager
  • Opportunity to join the Education Quality Program
  • Easy access to affordable financing for all your school needs
  • A grace period of up to 60 days

Eligibility

  • Be owned as a private limited company, a trust managed, church-owned, partnership, or sole proprietor
  • Be registered or licensed with the Ministry of Education
  • Valid operating license from the relevant authorities
  • Be at least 2 years old at the time of application
  • Should have at least 200 active learners as a bare minimum
  • The net dropout rate should not be more than 15% a year (Net drop out= New entries - Dropouts)
  • Key staff such as head teacher and bursar should have at least 2 years’ experience in the position they are serving
  • Banking history with another financial institution and accounting services
  • Evidence of proper record recording.
  • Proper Management Information System is a plus not a must