Family Bank Limited Biashara Boost Loan Details

Rates available from as of 1st April 2021
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Family Bank Limited

Biashara Boost Loan
Amount
Ksh5k - 5M
Duration
1 Month - 36 Months
Total Cost
16.6% annualized (year 1)
Business Permit Required
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Loan Cost

  • Interest: 13.5%
  • Application Fee: 0
  • Processing Fee: 3%
  • Excise Duty: 20% of processing fee

Loan structure

  • Type: Secured
  • Interest structure: Reducing Balance
  • Collateral needed: Either; Log book, Business stock or Title deed

Loan  Details

  • Loan size: Micro/SME
  • Minimum tenure: 1 Months
  • Max tenure: 3 Years
  • Minimum amount: ksh5K
  • Max amount: ksh5M
  • Repayment Frequency: Weekly/Monthly

Eligibility

  • Time in operation: 12 Months
  • Banking History: 6 months

Documents

  • KRA Pin
  • National ID
  • 12 Months bank statement
  • Business records
  • T&C Link

Example Representative Pricing

  • Loan Amount: ksh100,000
  • Annual Interest Rate: 13.5%
  • Processing Fee: ksh3000
  • Excise Duty: ksh600
  • Loan duration: 12 months
  • Estimated Monthly repayment: ksh8,955
  • Estimated Total repayment amount: ksh107,462

Money254 Review

Pros

  • Flexible security requirements
  • Available to businesses without formal registration

Cons

  • Requires the business to be operational for at least 1 year
  • This loan requires security

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How to Apply Family Bank Kenya Biashara Boost Loan, Structure, Repayment, Fees & Contacts

Biashara Boost Loan by Family Bank Kenya is a loan specially designed for micro-businesses that require funds to expand their existing business lines profitably.

Who is Eligible for Family Bank Kenya Biashara Boost Loan?

Family Bank Kenya Biashara Boost Loan limits and Interest rates

Family Bank Kenya Biashara Boost Loan Interest Structure

How to Apply for Your First Family Bank Kenya Biashara Boost Loan

How to Make Family Bank Kenya Biashara Boost Loan Repayments

How to Make Family Bank Kenya Biashara Boost Loan Repayments

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