Business Loans

Caritas Microfinance Bank Limited Mustard Seed Development Loan Details

Rates available from as of 1st April 2021
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Caritas Microfinance Bank Limited

Mustard Seed Development Loan
Amount
ksh5k - 200k
Duration
1 month - 48 Months
Total Cost
4.62%- 221.76% (per loan)
Business Permit Required
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Loan Cost

  • ‍‍Interest: 1.5% p.m
  • Application Fee: 0
  • Processing Fee: 3%
  • Excise duty: 20% of processing fee
  • Credit Insurance: 0.06%

Loan structure‍

  • Type: Secured
  • Interest structure: Flat Rate
  • Security needed: 1 Guarantor

Loan  Details‍

  • Loan size: Micro/SME
  • Minimum tenure: 1 Month
  • Max tenure: 48 Months
  • Minimum Amount: ksh5K
  • Max amount: ksh200K
  • Repayment Frequency: Monthly

Eligibility‍

  • Time in operation: 6 Months
  • Banking History: No requirement

Documents

  • National ID
  • KRA Pin
  • Coloured Passport photograph
  • Open an account with the bank

Money254 Review

Pros

  • ‍‍Available to businesses without formal registration‍

Cons‍

  • Requires security
  • Requires guarantors to open an account with the bank

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How to Apply Caritas Microfinance Bank Mustard Seed Development Loan, Structure, Repayment, Fees & Contacts

Caritas Microfinance Bank Mustard Seed Development Loan is designed for micro, small and medium business growth needs. Funds can be used for working capital, asset acquisition, business expansion

Who is Eligible for Caritas Microfinance Bank Mustard Seed Development Loan?

Caritas Microfinance Bank Mustard Seed Development Loan limits and Interest rates

Other Fees

Caritas Microfinance Bank Mustard Seed Development Loan Interest Structure

How to Apply for Your First Caritas Microfinance Bank Mustard Seed Development Loan

How to Apply for Your First Caritas Microfinance Bank Mustard Seed Development Loan

Contacts

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