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Patrick Chitumba Business Correspondent
GWERU-based property developer, TM Holdings, is now offering instant loans to people who are formally employed. The loans can be disbursed within 30 minutes of application.

Chairperson of TM Group of companies Tinashe Manzungu, in an interview recently said the loans, which can be accessed at one of the groups, Tinrue Finance (Pvt) Ltd, were introduced to cater for prospective home seekers.

TM Group of companies has portfolios in construction, real estate and land development, financial services, hospitality, health insurance and agriculture (Beef production).

“We now offer instant loans for clients whom we say are salaried. These are formally employed and receive salaries in time.

“These can apply and get the loan after 30 minutes of application. We also have come up with loans for the in-formalised sector who have been of late not been recognised by the banks as they do not have collateral. These loans are disbursed within 24 hours of application,” said Dr Manzungu.

“Our salary-based loans are there to sustain our clients till month end as they are emergency loans, which are there just to cushion the lifestyle till month end. We have flexible interests and our maximum interest is 10 percent per month.”

He said they witnessed a surge in clients who were walking in to enquire about the products while others have already joined the facility for mortgage loans.

“So far we have a very big clientele base, some of our clients being employees from Midlands State University (MSU) and others from mining giant Unki Mines.

This means that a clients either in the formal or non formal sector and want to build a home and has no money can approach Tinrue Finance to get financial assistance  in building his or her dream home and the premium is paid over an agreed number of years,” said Dr Manzungu.