Micro Business Loans
Short term business loan targeting micro business enterprises for financing any productive purpose e.g. borrowers current assets but not for financing fixed assets.
- Interest charged on declining balance.
- Minimum loan amount UShs. 100,000/=
- Maximum loan amount of up to UShs. 15million.
- Flexible and regular repayment plans available.
- Loan period of up to 12 months.
- Savings or Current Account with the Bank.
- Movable collateral like vehicles, household property or business assets.
- Guarantees, personal or corporate.
- Application fee of UShs. 5,000/=.
- Commitment fee of 2% of loan amount.
- Inspection of collateral.
- Legal perfection of collateral and guarantees.
- Applicant must be resident within the branch designated area of operation.
- There must be an on-going business activity
- Fast and easiest way to access business funds.
- Affordable to most low income earners and rural poor.
- Informal loan security accepted.