Business Loans

Shara Working Capital Loan Details

Rates available from as of 1st April 2021
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Shara

Revolving Capital Loan
Amount
Ksh 20,000 - 200,000
Duration
2 - 8 weeks
Total Cost
8.5%
Business Permit Required
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Loan Cost

Interest Tiering:

  • 2 week loan - 6% interest
  • 4 week loan - 8.5% interest
  • 8 week loan - 17% interest

Other Fees:

  • Application Fee: 0

‍Loan structure

  • ‍‍Type: Unsecured
  • Loan Fees structure: Flat rate
  • Collateral needed: None

Loan  Details

  • ‍‍Loan size: SME
  • Minimum tenure: 2 weeks
  • Max tenure: 8 weeks
  • Starting Limit: 20% of monthly sales
  • Minimum Limit: ksh 20k
  • Maximum Limit: ksh 200k
  • Repayment Frequency: Weekly

Loan Limit replenishes upon completed repayment

‍

Eligibility

  • ‍‍Time in operation: 6 Months
  • Minimum monthly Sales: Ksh 100,000
  • CRB Status: In good standing

‍Documents

  • ‍‍National ID
  • KRA Pin
  • Business records
  • Business Permit
  • 6 months Mpesa & Bank statements

Shara Technologies Ltd is a MFI licensed under the Central Bank (Amendment)Act of 2021 and regulated by the Central Bank of Kenya.

‍

Money254 Review

Pros:

  • Good for: Business looking for fast and flexible financing for working capital
  • Revolving Credit: Once your limit is approved, drawdown your funds as needed up to your limit. Your limit replenishes upon repayment.
  • Flexible Repayment: Choose a repayment duration of 2 - 8 weeks for each loan.

Cons:

  • Relatively short duration: The facility is suitable for short-term working capital needs, with a duration of up to eight weeks.

‍

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