How are interest payments calculated?

IMMDF loans are amortized, and interest is paid on a declining balance.

How does IMMDF decide what interest rate to charge?

IMMDF borrows the money that it lends, so to cover operating costs it has to charge an interest rate higher than the rate at which it borrows. The interest rate for our products currently begins at 15%.

How long do borrowers have to draw down the loan?

Borrowers have 12 months to draw down the entire loan amount for the MME program, and 6 months for the SME program.

How is the loan disbursed?

IMMDF disburses loan monies by bank transfer

When are disbursements made?

Loan disbursements are made on the first and third Wednesday of every month. For the first drawdown, the borrower must submit a drawdown request 1 month in advance. For subsequent disbursements, borrowers must submit a drawdown request 2 weeks before the disbursement date.

How much can IMMDF disburse at one time?
IMMDF can disburse up to $500,000 to a borrower’s corporate bank account.
IMMDF can disburse up to $250,000 to a borrower’s personal bank account.
IMMDF can disburse up to $5,000,000 directly to vendors, given that the borrower can provide pro-forma invoices and other documentation.