Choice Microfinance Bank Limited Supa Biashara Loan Details

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

Supa Biashara Loan
Amount
Ksh500k - 2M
Duration
1 Month - 36 Months
Total Cost
24% annualized (year 1)
Business Permit Required
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Loan Cost

  • Interest: 24% p.a
  • Application Fee: 0
  • Processing Fee: 0

Loan structure

  • Type: Secured
  • Interest structure: Reducing balance
  • Security needed: Shares, Title deeds, Life insurance polices, log book

Loan  Details

  • Loan size: SME
  • Minimum tenure: 1 Month
  • Max tenure: 12 Months
  • Minimum Amount: ksh500K
  • Max amount: ksh2M
  • Repayment Frequency: Monthly

Eligibility

  • Time in operation: 6 Months
  • Banking History: 3 months  

Documents

  • National ID
  • KRA Pin
  • Coloured Passport photograph

Money254 Review

Pros

  • Available to businesses without formal registration

Cons

  • Requires security
  • Requires active account for 6 months

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

Choice Microfinance Bank Supa Biashara Loan is a product that provides funds to finance working capital requirements of business entities as well as other business requirements.

Who is eligible for Choice Microfinance Bank Supa Biashara Loan?

Choice Microfinance Bank Supa Biashara Loan limits and Interest rates

Other Charges

Choice Microfinance Bank Supa Biashara Loan Interest Structure

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

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

Contacts

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