Business Loans

Rafiki Microfinance Bank Limited Business Loan Details

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

Business Loan
Amount
Ksh100k - 2M
Duration
1 Month - 24 Months
Total Cost
23.20%- 26.20% annualized (year 1)
Business Permit Required
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Loan Cost

  • ‍‍Interest: 19% - 23%
  • Application Fee: 0
  • Processing Fee: 3%
  • Excise duty: 20% of processing fee
  • Credit Insurance: 0.6%

Loan structure‍

  • Type: Secured
  • Interest structure: Reducing balance
  • Security needed: Title deed, log book

Loan  Details‍

  • Loan size: SME
  • Minimum tenure: 1 Month
  • Max tenure: 24 Months
  • Minimum Amount: ksh100K
  • Max amount: ksh2M
  • Repayment Frequency: Monthly

Eligibility‍

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

Documents

  • National ID card
  • Business has running for at least 6 months
  • KRA PIN certificate
  • Photograph
  • T&C Link

Example Representative Pricing

  • Loan Amount: ksh100,000
  • Annual Interest Rate: 23%
  • Processing Fee: ksh3000
  • Excise Duty: ksh600
  • Credit Insurance: ksh600
  • Loan duration: 12 months
  • Estimated Monthly repayment: ksh9,408
  • Estimated Total repayment amount: ksh117,092

Money254 Review

Pros

  • ‍‍Available to businesses without formal registration‍

Cons‍

  • Requires security
  • Requires an active banking history for at least 3 months


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How to Apply Rafiki Microfinance Bank Business Loan, Structure, Repayment, Fees & Contacts

Rafiki Microfinance Bank Business Loan is a credit facility designed to provide small and micro business owners with working capital.

Who is Eligible for Rafiki Microfinance Bank Business Loan?

Rafiki Microfinance Bank Business Loan limits and Interest rates

Other Fees

Rafiki Microfinance Bank Business Loan Interest Structure

How to Apply for Your First Rafiki Microfinance Bank Business Loan

How to Apply for Your First Rafiki Microfinance Bank Business Loan

Contacts

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