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% - 22%
  • 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

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

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

Stay up to date with your money - sign up for our newsletter today.

Get updates from the Money254 team on financial news and new Money 254 features.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.