About Micro Loan
This product is available to individuals or registered entities running small and medium businesses. The facility is granted to fund business expansion, bridging finance and working capital needs for the business. The loan is secured by chattels mortgage on household and business assets and hypothecation on business stocks and is repaid through equated monthly instalments.
Key Features
Registration fee: KES 1,000
Commitment fees: 5%
Credit Life: 0.083% per month
Chattels mortgage security
Business asset hypothecation
Flexible terms
Requirements
Business registration
Household/business assets for security
Business financial records
Valid identification
Proof of business operations
