Business Loan
Purpose:
A credit facility aimed at providing businesses with boost in working capital and is based on the analysis of their business performance.
Target Market:
- Sole proprietorships
- Business names
- Limited companies
Requirements:
- Savings and collateral building period of at least 6 months
- Bank statements for the last six months from the applicants current bank
- Evidence of business income
- Certified copies of identification documents (I.D., Passport, PIN, Certificate of Incorporation, Memo & Articles of Association
- Business loan application form giving the details of the applicant
- CRB report from a registered bureau.
- Applicant must have a minimum share capital of Kshs 5000
- Copy of latest final books of accounting.
Forms of security considered:
- Title deeds
- Prime property
- Life insurance policy
- Cash secured in a fixed account
- Motor Vehicle log books