Micro Business Loan

Short term business loan targeting micro business enterprises for financing any productive purpose e.g. borrowers current assets but not for financing fixed assets.

Main Features:

• 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.

Basic Requirements:

• 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

Benefits:

• Fast and easiest way to access business funds.
• Affordable to most low income earners and rural poor.
• Informal loan security accepted.