MSME Loan Application Form

[Please complete the application form below]

Director / Partner / Office Bearer #1

Director / Partner / Office Bearer #2

Director / Partner / Office Bearer #3

1. I/We understand that the TATU Capital may review my/our loan facility periodically and that at any time, by notice to me/us at the residential address given, suspend my/our loan facility and/or require my/our immediate settlement of all amounts outstanding to my/our loan and overdrawn current account, inclusive of all accrued interest.
2. In the event that the TATU Capital incurs any legal expenses in recovering the amount due to it under this loan facility, TATU Capital shall be entitled to recover such legal costs from me/us on a legal practitioner and client basis, together with any collection charges which may be levied by its legal practitioners. I/We give TATU Capital authority to set-off the outstanding loan balance and accrued interest, against any credit balances that may be sitting in any other accounts held with TATU Capital.
3. I/We understand that I must not exceed the loan and/or overdraft limit agreed by TATU Capital.
4. I/We agree to pay a drawdown fee, charged at 2% (minimum US$50) on the gross amount I/we would have borrowed.
5. I/We agree to pay an establishment fee, charged at 2% (minimum US$50) on the gross amount I/we would have borrowed.
6. I/We authorise TATU Capital to immediately deduct 1% per annum of the gross loan amount towards insurance. I/We understand that TATU Capital will take out an insurance, which is binding on me and which I/we may examine at the TATU Capitalʼs Head Office on request.
7. I/We choose domicilium citandi et executandi at the residential address shown above and hereby submit myself to jurisdiction of the courts of Zimbabwe in any dispute arising from this document, notwithstanding that, at the time of proceedings are commenced, I am domiciled outside Zimbabwe.
8. In the event of any default by me, including failure to make an instalment due on time, TATU Capital shall be entitled without notice, to demand immediate payment of sums required to cover my existing and contingent liability to TATU Capital whether or not such are immediately due and payable and in addition to decline me further facilities.
9. I/We understand that TATU Capital will charge interest on the outstanding debt balance on my loan calculated at 8% per month and that the said interest will accrue on a daily basis.
10. Any sums which remain unpaid beyond the agreed dates of payment or any outstanding sums which have become immediately due by virtue of demand by TATU Capital shall be subject to penalty interest of 15% per month. The said penalty interest rate is subject to change as advised by TATU Capital in writing from time to time.
11. I/We agree that TATU Capital may collect, use and disclose their credit data as provided in agreement and/or obtained by TATU Capital in accordance with the Access to Information and Protection of Privacy Act (10:27).
12. Early repayments of this loan shall not attract penalty charges.