Loan Cost
- Interest: 20%
- Application Fee: 0
- Processing Fee: 0
- Securitization Fee: ksh2000
Loan structure
- Type: Secured
- Interest structure: Flat Rate
- Security needed: log book
Loan Details
- Loan size: SME
- Minimum tenure: 1 Month
- Max tenure: 3 Years
- Minimum Amount: ksh1M
- Max amount: ksh3M
- Repayment Frequency: Weekly/Monthly
Eligibility
- Time in operation: 24 Months
Documents
- Original ID and Copy of ID
- Bank and M-PESA statements for at least 6 months
- Business permits
- Business records for at least 6 months
- Loan security (Log Book)
Representative Example of Loan Costs:
- Example Loan Amount: Ksh100,000
- Example Loan Tenure: 12 months
- Representative APR: 20%
- Securitization Fee: ksh5,000
- Monthly Loan Repayments: ksh28,333
- Total Loan Repayment: ksh340,000
This product is provided by Real People Kenya. Real People Kenya is a Non-deposit taking Microfinance Institution duly registered under the Companies Act No 17 of 2015.
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