Business Loans

Choice Microfinance Bank Limited Chemsha Biashara Details

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

Chemsha Biashara Business Loan
Amount
Ksh1k - 10k
Duration
1 Month
Total Cost
5% per loan
Business Permit Required
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Loan Cost

  • ‍‍Interest: 5% per loan
  • Application Fee: 0
  • Processing Fee: 0
  • Credit Insurance: ksh100

Loan structure‍

  • Type: Unsecured
  • Interest structure: Flat Rate
  • Security needed: None

Loan  Details‍

  • Loan size: Micro
  • Minimum tenure:
  • Max tenure: 1 Month
  • Minimum Amount: ksh1K
  • Max amount: ksh10K
  • Repayment Frequency: Daily/weekly

Eligibility‍

  • Time in operation: 6 Months
  • Banking History: 14 Days

Documents‍

  • National ID
  • KRA Pin
  • Coloured Passport photograph

Example Representative Pricing

  • Loan Amount: ksh10,000
  • Loan Interest Rate: 5%
  • Processing Fee: ksh0
  • Credit Insurance: ksh100
  • Loan duration: 1 month
  • Estimated Total repayment amount: ksh10,500

This product is provided by Choice Microfinance Bank Limited. Choice Microfinance Bank Limited is a Deposit-taking Microfinance Bank licensed under the Microfinance Act No. 19 of 2006  and regulated by the Central Bank of Kenya.

Money254 Review

Pros

  • ‍‍Available to businesses without formal registration
  • No security is required‍

Cons‍

  • Required to open an account

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

Choice Microfinance Bank Chemsha Biashara Loan is a product geared towards small-scale traders who are in the business of fast-moving goods and require float for working capital.

Who is eligible for Choice Microfinance Bank Chemsha Biashara Loan?

Choice Microfinance Bank Chemsha Biashara Loan limits and Interest rates

Other Charges

Choice Microfinance Bank Chemsha Biashara Loan Interest Structure

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

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

Contacts

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