ABSA Bank Kenya Plc Secured Business Loan Details

Rates available from as of 1st April 2021
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ABSA Bank Kenya Plc

Secured Business Loan
Amount
Ksh100k - 7M
Duration
6 Months - 10 Years
Total Cost
18.76% annualized (year 1)
Certificate of Incorporation Required
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Loan Cost

  • Interest: 14.5%
  • Application Fee: 0
  • Processing Fee: 3%
  • Excise Duty: 20% of processing fee

Loan structure

  • Type: Secured
  • Interest structure: Reducing Balance
  • Security needed: Conventional securities

Loan  Details

  • Loan size: SME
  • Minimum tenure: 6 Months
  • Max tenure: 10 Years
  • Minimum Amount: ksh100K
  • Max amount: ksh7M
  • Repayment Frequency: Monthly

Eligibility

  • Time in operation: 3 Years
  • Banking History: 12 months

Documents

  • Certificate of incorporation or certificate of compliance if not locally incorporated
  • Memorandum and articles of association/CR8, CR12
  • Company PIN certificate
  • National ID (for Kenyan citizens)/Passport (for foreigners) for all directors (plus ultimate beneficiary owners if company is owned by other companies) and signatories/known agents
  • 1 passport-size photo each for all the signatories and directors/known agents
  • Board resolution specifying the signing powers on the company letter head sealed with the company seal
  • Signed Absa account opening pack (sealed )
  • Residential address confirmation (name estate, road and house number) for all directors and signatories (use the attached format)
  • Company physical address confirmation (can be found in the new PIN certificates)
  • Annual returns (for companies registered over one year ago)
  • Revenue stamp – KES100
  • T&C Link

Example Representative Pricing

  • Loan Amount: ksh100,000
  • Annual Interest Rate: 14.5%
  • Processing Fee: ksh3000
  • Excise Duty: ksh600
  • Loan duration: 12 months
  • Estimated Monthly repayment: ksh9,332
  • Estimated Total repayment amount: ksh111,984

Money254 Review

Pros

  • Flexible repayment period

Cons

  • Requires business to have been in operation for 3 years
  • Only available to Incorporated companies

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How to Apply ABSA Bank Kenya Plc Business Loan, Structure, Repayment, Fees & Contacts

ABSA Bank Kenya Plc Business loans are offered to established business owners.

Who is Eligible for ABSA Bank Kenya Plc Business Loan?

ABSA Bank Kenya Plc Business Loan limits and Interest rates

Other Fees

ABSA Bank Kenya Plc Business Loan Interest Structure

How to Apply for Your First ABSA Bank Kenya Plc Business Loan

How to Apply for Your First ABSA Bank Kenya Plc Business Loan

Contacts

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