Choice Microfinance Bank Limited Biashara Dhabiti Loan Details

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

Biashara Dhabiti Loan
Amount
Ksh300k - 500k
Duration
1 Month - 12 Months
Total Cost
24% annualized (year 1)
Business Permit Required
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Loan Cost

  • Interest: 24%
  • Application Fee: 0
  • Processing Fee: 0

Loan structure

  • Type: Secured
  • Interest structure: Reducing balance
  • Security needed: Either; Shares, Title deeds, Life insurance polices or Logbook

Loan  Details

  • Loan size: SME
  • Minimum tenure: 1 Month
  • Max tenure: 12 Months
  • Minimum amount: ksh300K
  • Max amount: ksh500K
  • Repayment Frequency: Monthly

Eligibility

  • Time in operation: 6 Months
  • Banking History: 6 months  

Documents

  • National ID
  • KRA Pin
  • Colored Passport photograph

Example Representative Pricing

  • Loan Amount: ksh100,000
  • Annual Interest Rate: 24%
  • Processing Fee: ksh0
  • Excise Duty: ksh0
  • Loan duration: 12 months
  • Estimated Monthly repayment: ksh9,456
  • Estimated Total repayment amount: ksh134,715


Money254 Review

Pros

  • Available to businesses without formal registration

Cons

  • Requires security
  • Requires business to be in operation for 6 months


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How to Apply Choice Microfinance Bank Biashara Dhabiti Loan, Structure, Repayment, Fees & Contacts

Choice Microfinance Bank Biashara Dhabiti Loan is offered to individual entrepreneurs and business entities to cater to diverse business requirements.

Who is eligible for Choice Microfinance Bank Biashara Dhabiti Loan?

Choice Microfinance Bank Biashara Dhabiti Loan limits and Interest rates

Other Charges

Choice Microfinance Bank Biashara Dhabiti Loan Interest Structure

How to Apply for Your First Choice Microfinance Bank Biashara Dhabiti Loan 

How to Apply for Your First Choice Microfinance Bank Biashara Dhabiti Loan 

Contacts

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