Loan Cost
- Interest: 1.83% p.m
- Application Fee: 0
- Processing Fee: 2%
Loan structure
- Type: Secured
- Interest structure: Flat Rate
- Security needed: cash collateral & 2 guarantors
Loan Details
- Loan size: SME
- Minimum tenure: 12 Months
- Max tenure: 36 Months
- Minimum Amount: ksh200K
- Max amount: Pegged on business security and turnover
- Repayment Frequency: Monthly
Eligibility
- Time in operation: 12 Months
Documents
- Original ID and Copy of ID
- KRA PIN Certificate
- Bank and M-PESA statements for at least 6 months
- Active Bank account or Mpesa Statement
- Business permit/ registration certificate
- Business records for at least 6 months
- Loan security (Log Book, Title Deed, House hold goods, business assets)
This Product is provided by ECLOF Kenya. ECLOF Kenya is a Non-deposit taking Microfinance Institution duly registered under the Companies Act No 17 of 2015