Faulu Microfinance Bank Limited Micro loan Partially Secured Details

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

Micro loan Partially Secured
Amount
Ksh5k - 500k
Duration
6 Months - 18 months
Total Cost
33.29% annualized (year 1)
Business Permit Required
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Loan Cost

  • Interest: 29.09%
  • Application Fee: 0
  • Processing Fee: 3%
  • Excise Duty: 20% of processing fee

Loan structure

  • Type:  Partially Secured
  • Interest structure: Reducing balance
  • Security needed: 2 guarantors with hazina accounts

Loan  Details

  • Loan size: Micro/SME
  • Minimum tenure: 6 Months
  • Max tenure: 18 Months
  • Minimum amount: ksh5K
  • Max amount: ksh500K
  • Repayment Frequency: Monthly

Eligibility

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

Documents

  • National ID
  • KRA Pin
  • Coloured Passport photograph
  • Open a Hazina account with the bank
  • T&C Link

Money254 Review

Pros

  • Available to businesses without formal registration
  • Available to micro and SMEs

Cons

  • Requires partial security
  • Requires business to be in operation for 12 months


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How to Apply Faulu Microfinance Bank Micro Secured Loan, Structure, Repayment, Fees & Contacts

Faulu Microfinance Bank Micro Secured loan is a loan given to business people in need of cash to boost their Biashara or finance LPOs, boost supplies to meet demands, and business emergencies.

Who is Eligible for Faulu Microfinance Bank Micro Secured Loan?

Faulu Microfinance Bank Micro Secured Loan Security/Collateral

Faulu Microfinance Bank Micro Secured Loan limits and Interest rates

Other Fees

Faulu Microfinance Bank Micro Secured Loan Interest Structure

Faulu Microfinance Bank Micro Secured Loan Interest Structure

‍How to Make Faulu Microfinance Bank Micro Secured Loan Repayments‍

Contacts

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