These are loans targeted towards boosting cash flows for existing small and medium enterprises, financing startup businesses and also businesses that deal with invoice discounting and LPO (Local Purchase Orders).
- Individuals/groups with existing businesses.
- Individuals who have a source of income and are interested in starting a business.
- Last 6 months Bank statements (From date of application)
- Last 6 months M-Pesa statements (From date of application)
- Registration & Pin Certificate
- Business Permit (For current year)
- Relevant receipts, contracts, invoices
- A Copy of national ID card
- Post-dated cheques (If application is approved)
- Log book (above Ksh. 100,000)
- Minimum loan amount Kshs. 15,000
- Maximum amount – Kshs. 300,000/=
- Loan repayment period – Up to 9 months
Upfront fees charged:
Application Fee – Kshs. 350/=
Fees payable upon approval of the loan:
- Appraisal Fee – Kshs. 1,500/=
- Processing Fee – 3.8% of loan amount below Kshs. 30,000/= – 6.3% of loan amount above Kshs. 30,001/=