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Credit-Readiness and Loan Packaging Service Development Expert Volunteer at The International Executive Service Corps (IESC), January 2018

Credit-Readiness and Loan Packaging Service Development Expert Volunteer at The International Executive Service Corps (IESC), January 2018
NAFASI ZA AJIRA / KAZI International Executive Service Corps (IESC) 

Job Title: Credit-Readiness and Loan Packaging Service Development Expert Volunteer
Employer: International Executive Service Corps (IESC)
Location: Location of Assignment: Dar es Salaam, Tanzania, with travel to Mbeya, Iringa, Morogoro, and Zanzibar

Apply by: 20 January 2018
Proposed Level of Effort: 4 weeks (approx.)
Anticipated Start Date: 28 January 2018
Anticipated End Date: 16 February 2018

Assignment Summary: This assignment will finalize the development of a structured “credit-readiness” process for enterprise loan applicants. Please see the assignment objectives section for more information.

The Tanzania Enabling Growth through Investment and Enterprise Program (ENGINE) is a four-year, USAID-funded Feed the Future activity awarded through the Volunteers for Economic Growth Alliance (VEGA), that aims to streamline and enhance many of the regulatory, informational and financial channels that encourage domestic and foreign investment in the southern mainland agricultural regions of Mbeya, Morogoro, and Iringa, and in Zanzibar.

ENGINE works at the district level, using a broad-based approach to engage with district Local Government Authorities (LGAs), private sector associations, business development service providers, financial institutions and small and medium enterprises. The program’s activities are divided into three main components:

  1. Implement policies for growth. Build the capacity of the private sector to effectively dialogue with the government to set the policy agenda and improve the capacity of the public sector to implement policies.
  2. Equip businesses for growth. Strengthen SME capacity and foster the growth and capacity of a sustainable market for business development services (BDS) in Tanzania.
  3. Access to finance for growth. Broaden access to finance for small and medium-sized enterprises (SMEs), especially women and youth entrepreneurs and those working within agricultural value chains, to facilitate increased investment and growth.

Problem Statement
Small enterprises in Tanzania often cite a lack of access to finance as a key constraint to the long-term viability and growth of their business. While the reasons for low levels of small enterprise lending among financial institutions is myriad, one significant factor is the inability of business owners to adequately prepare prior to seeking a business loan.

Assignment Objectives
The objective of this assignment is to finalize the development of a structured “credit-readiness” process. This process will be employed by a select group of Tanzanian business advisors to use when assisting small and medium enterprises with planning for a business loan, completing their application and assembling the required documentation.

The volunteer will work with the ENGINE team to develop a stepwise loan application preparation process. Once developed, with standards established for each step, the volunteer will teach the elements of the process to business advisors. By pre-underwriting potential borrowers, this process would also serve as a first line of due-diligence, ensuring accuracy and reasonableness on the part of the business before its profile is shared with financial institutions.

Already, the business advisors have been screened and trained on financial analysis and commercial credit. As a next step, the volunteer will deliver a two-day, hands-on training focusing on working with a client to collect the information necessary to construct financial statements, cash-flow projections and business plans.

This follow-up training should be high interactive, containing case studies and group/individual exercises on financial statement preparation, cashflow projections and business plan development.

Assignment Tasks

The Expert Volunteer will complete the following tasks:

Prior to departure

  1. After receiving confirmation to work with ENGINE, the volunteer will coordinate closely with the IESC office in Tanzania, reviewing available secondary information (materials and recommendations from the initial training) and finalizing the details of the assignment.
  2. Develop effective training materials with case studies, exercises and practical examples (localized as much as possible) for the BDS providers.

Upon arrival in Tanzania

  1. Attend an orientation meeting with ENGINE Program staff in Dar es Salaam.
  2. In collaboration with the ENGINE team, develop the required elements of a formal credit-readiness process for small business owners—including both the necessary knowledge and documentation, as well as a set of standards, guidelines and templates for each component, with methods of quality assurance verification.
  3. Conduct a two-day training in Iringa, Mbeya, Zanzibar and Morogoro to train business service providers in the process and standards that constitute a firm’s credit-readiness so that they can provide the service directly to business owners. Topics should include:
  • Financial statement preparation
  • Cash flow projection
  • Business plan development
  • Loan structuring & repayment
  • Start to finish loan application process

Submit a final report summarizing findings, conclusions and recommendations related to the assignment;
Provide exit debriefings to ENGINE leadership and other relevant stakeholders.
Deliverables The Expert Volunteer will submit the following deliverables:
i) To be submitted prior to delivering training:

Development of standards, guidelines and templates that constitute a firm’s credit-readiness for BDS providers to adhere to when offering this service;
Training materials.
ii) To be submitted after concluding training:

Final Trip Report that includes the following sections:
A. Introduction; B. Methodology; C. Findings, Conclusions, and Recommendations; and
Discussion of assignment objectives and how they were met or why they were not met.
Additionally, the Expert Volunteer will provide exit debriefings to the ENGINE staff.

Expert Volunteer Qualifications
The ideal Credit Readiness Service Development Expert Volunteer will have the following skills and qualifications:

  • 7+ years of commercial credit underwriting experience;
  • Knowledge of business loan documentation and loan processing;
  • Strong commercial credit and cash flow analysis skills;
  • Well-developed writing skills in English and the ability to express one’s self clearly and concisely;
  • Undergraduate university degree in business, finance, accounting or related field; relevant graduate degree is a plus;
  • Training skills, including participatory training in group settings.
  • Self-motivated, proactive, detail-oriented, mature, professional team player, who is a strong people person and communicator, with good inter-personal skills;
  • Ability to address issues, challenges, questions, and concerns in a professional, respectful, logical, and timely manner;
  • Ability to work effectively in cross-cultural contexts; prior experience working overseas—especially in Africa—is helpful; a
  • Fluent English language skills, knowledge of Swahili would be helpful.

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