Loan Cost
- Interest: 3.5% p.m
- Application Fee: 0
- Processing Fee: 4%
- Chattel Registration: ksh2000
- Credit Insurance: 1%
Loan structure
- Type: Secured
- Interest structure: Reducing Balance
- Collateral needed: 20% Cash Collateral
Loan Details
- Loan size: Micro/SME
- Minimum tenure: 3 Months
- Max tenure: 12 Months
- Minimum Amount: ksh5K
- Max amount: ksh140k
- Repayment Frequency: Weekly/ Monthly
Eligibility
- Time in operation: 12 Months
Documents
- Original ID
- KRA PIN
- Valid M-PESA number
- Business records for at least 6 months
- Business operations for at least 12 months
- Bank and M-PESA statements for at least 6 months
Example Representative Pricing
- Loan Amount: ksh100,000
- Annual Interest Rate: 42%
- Processing Fee: ksh4000
- Credit Insurance: ksh1000
- Chattel Registration: ksh2000
- Loan duration: 12 months
- Estimated Monthly repayment: ksh10,348.39
- Estimated Total repayment amount: ksh124,180.74
This product is provided by Musoni Microfinance. Musoni Microfinance is a Non-deposit taking Microfinance institution licensed under the Central Bank (Amendment)Act of 2021 and regulated by the Central Bank of Kenya.
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