Biashara Loan
This facility targets business individuals who need cash to improve their working capital or want to acquire capital assets for their businesses.
Loan Details:
- Maximum loan amount shall be Kes 5,000,000.
- Maximum repayment period shall be 60 months.
- A member will access up to 4 times their deposit as a loan.
- The borrower must be operating a business which must have been in operation for at least 24
- The borrower shall provide documents in support of existence of the business such as current permits, business registration certificates, CR12 among other legal documents, Audited books of accounts for at least 2 years, bank statements/mpesa statements for at least 1 year.
- The applicant should be recommended by an existing member of the society in good standing.
- Maximum first loan shall be Kes 1,000,000 and subject to assessed ability. Amount above this shall be approved only by the board before disbursement.
- The interest shall be 1% per month reducing balance.
- All loans shall be fully secured by collateral such as deposit, vehicle or property at the ratio of 1:1
Benefits of Biashara Loan
High Amount
The maximum loan amount, which can be up to four times the member's savings, is 5 million Kes.
Low Interest
The interest rate is calculated at 1% per month on a reducing balance
Flexible Repayment
The maximum repayment period for this loan is seventy-two 60 Months.
Offset Loans
This loan can be used to offset a single loans with consolidation and factoring T&C applying
Are You Interested in Applying for This Loan?
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