Century Microfinance Bank Limited Boresha Imara Loan Details

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

Boresha Imara Loan
Amount
Ksh5k - 1M
Duration
3 Months - 36 Months
Total Cost
24.3% annualized (year 1)
Business Permit Required
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Loan Cost

  • Interest: 18%
  • Application Fee: 0
  • Processing Fee: 4%

Loan structure

  • Type: Secured
  • Interest structure: Reducing Balance
  • Collateral needed: 10% cash collateral & 2 Guarantors

Loan  Details

  • Loan size: Micro/SME
  • Minimum tenure: 3 Months
  • Max tenure: 36 Months
  • Minimum amount: ksh5K
  • Max amount: ksh1M
  • Repayment Frequency: Weekly/Monthly

Eligibility

  • Time in operation: 6 Months
  • Banking History: Required to save 10% of loan amount

Documents

  • National ID card
  • Business has running for at least 6 months
  • KRA PIN certificate
  • Photograph (for first loans only)

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Pros

  • Available to businesses without formal registration
  • Flexible repayment installments

Cons

  • Requires both conventional security and cash security
  • Requires 10% cash deposit as security

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How to Apply Century Microfinance Bank Boresha Imara Loan, Structure, Repayment, Fees & Contacts

Century Microfinance Bank Boresha Imara Loan is a facility targeted at business people to assist them to boost their business with working stock or increasing capital.

Who is Eligible for Century Microfinance Bank Boresha Imara Loan?

Century Microfinance Bank Boresha Imara Loan Limits and Interest rates

Other Fees

Century Microfinance Bank Boresha Imara Loan Interest Structure

How to Apply for Your First Century Microfinance Bank Boresha Imara Loan

How to Apply for Your First Century Microfinance Bank Boresha Imara Loan

Contacts

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