Entrepreneurs eligible for the loan must demonstrate to the satisfaction of the bank that they have ability to repay the loan.
The borrower may be an individual person operating an informal business or a registered business entity.
An entrepreneur must have a minimum of one year experience in the business to be financed. For the business to be financed, entrepreneurs must have a regular cash flow to meet Monthly loan repayments.
i. Working Capital
Working Capital loans available for purchasing stock/raw materials, or paying various operating expenses associated with the business.
ii. Investment Capital
Available for capital investment, primarily purchase of equipment i.e. purchasing fixed assets that will be used in the business over a long period of time.
The financed amount is limited to 80% of the purchase price with the customer contributing 20% of the cost price.
Minimum Kshs. 5,000
Maximum Kshs. 500,000
The maximum loan tenure for this product is 12 Months graduated as follows;
1st Loan-6 Months
2nd loans –9 months
3rd loan –12 months
Charged at an annual rate of 18 %* calculated on flat line basis.*Terms and conditions apply
A penalty rate will be charged at an annual rate of 3 % in case of default.
Loan Negotiation Fees
A one off loan negotiation fee charged upfront at 2 % of the loan amount.
The Borrower is entitled to a 10% rebate of interest amount paid if all payments are made as scheduled.
Do you think Boresha Biashara Loan will assist you in financing your business?
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