1. MICRO CREDIT LOAN

Short term loan granted to members of micro creditgroup payable within 12 month in equal installment. The loan is meant to assist Sacco members in organized group access finances before accumulating enough deposit.

 

LOAN FEATURES

  • Maximum loan granted is ten times ones deposit with 20,000 first cycle and graduated by 20,000 for the subsequent cycles to a maximum of 100,000 in the fifth cycle.

  • Maximum repayment period is 12 month.

  • Interest rate is 12% payable up front.

  • Appraisal fee of 1% on applied amount and affidavit 200.

  • Crb referencing 200.

  • Loan form fee of 100.

  • A top up can be done after the group member has paid 1/2 the period and 1/2 the amount

 

  1. MICRO BUSINESS BOOSTER/MIBUBO LOAN

Middle term Micro credit loan granted to micro credit group members who have demonstrated credit worthiness in the micro finance program.

LOAN FEATURES

  • Medium term loan payable in one and half year (18 months) with minimum of kshs 80000 and a maximum of kshs150, 000.

  • Total loan advanced is 5 times one’s deposit.

  • Interest rate of 15% up front.

  • Loan application form fee ofkshs 100.

  • Crbreferencing kshs 200.

  • Loan appraisal fee of 1% and affidavit of kshs200.

 

 

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