Business Loans

Rafiki Microfinance Bank Limited Business Loan Details

Rates available from as of 1st April 2021
Money254 strives to provide relevant and accurate product information, which Money254 obtains directly from each institution’s tariff guide. If you believe a product’s details are incorrect, please report the product to Money254.

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
visit website

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

This product is provided by Rafiki Microfinance Bank. Rafiki Microfinance Bank is a Deposit-taking Microfinance Bank licensed under the Microfinance Act No. 19 of 2006  and regulated by the Central Bank of Kenya.

Money254 Review

Pros

  • ‍‍Available to businesses without formal registration‍

Cons‍

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


Use Money254's free search to view the best Business Loans available in Kenya today

We have aggregated all of the Business Loans from Kenya's top financial institutions.
See all Business Loans

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

Download the new Money254 App and don’t miss out on your next opportunity.

Join 1.5M Kenyans using Money254 to find better loans, savings accounts, and money tips today.
Get it on Google Play

What is Money254?

Money254 is a new platform focused on helping you make more out of the money you have. We’ve created a simple, fast and secure way to find and compare financial products that best match your needs. All of the information shown is from products available at established financial institutions that our team of experts have tirelessly collected.  
‍

We’ve just launched but will be adding more product categories and tools over the coming months.

Sign-up to our newsletter and social channels to stay up-to-date!
Learn more about Money254

Learn more about business loans with these recent articles from the Money254 blog:

5 Online Passive Income Streams That Have Kept Me Going After College
Money and Me

5 Online Passive Income Streams That Have Kept Me Going After College

January 31, 2023
Why You Should Consider Quitting Your Job This Year
Money Management

Why You Should Consider Quitting Your Job This Year

January 31, 2023
CBK Licences 12 More Digital Lenders  - FULL LIST
News and Analysis

CBK Licences 12 More Digital Lenders  - FULL LIST

January 30, 2023
Where Should I Keep Money in 2023? The 10 Main Options
Money Management

Where Should I Keep Money in 2023? The 10 Main Options

January 30, 2023
Managing ‘Black Tax’: 5 Things to Do If You Are In Your 20s
Money Management

Managing ‘Black Tax’: 5 Things to Do If You Are In Your 20s

January 30, 2023
Back to School: Where to Get Quick School Fees Loans in Kenya
Personal Loans

Back to School: Where to Get Quick School Fees Loans in Kenya

January 28, 2023
This Loan App Allows You to Extend Your Repayment Multiple Times
Personal Loans

This Loan App Allows You to Extend Your Repayment Multiple Times

January 27, 2023
Practical Financial Advice for Every Female Breadwinner
Money Management

Practical Financial Advice for Every Female Breadwinner

January 27, 2023

Stay up to date with your money - download the new Money254 App Today

Get it on Google Play

Sign up for our newsletter and get weekly money tips to your inbox.

Get updates from the Money254 team on financial news and new Money254 features.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
DOWNLOAD THE APP
Get it on Google Play
About
CompanyTerms of UsePrivacy PolicyEditorial Standards
Contact Us
Products
Personal LoansBusiness LoansAuto LoansLogbook LoansSavings AccountsCurrent AccountsCredit Cards

Disclaimer: The information that Money254 provides on this website is obtained from publicly available resources and is intended for information or educational purposes only. Money254 strives to keep the information on the website up to date and does not warranty that all the information will be as the financial institutions updated or changed information at all times. Money254 does not own any of the information provided by or obtained from third party financial institutions. Take note that the institutions represented on this website may vary their terms at any time or may offer you terms different to what you have seen on the website due to their own analysis of your individual circumstances or change of terms and you are encouraged to review the specific financial institution’s terms and conditions when obtaining their services or products. Money254 is not a financial institution, insurance provider or financial adviser and is not liable for any decisions any individual makes based on the information provided on the website.  Please refer to our terms and conditions and privacy policy before using this website.