Business Loans

 
Businesses require an adequate amount of capital to fund startup expenses or pay for expansions. As such, companies and individual business men take out business loans to gain the financial assistance they need.

PURPOSE
- Clients with already existing businesses for more than 1 year who want to boost their working capital

TERMS AND CONDITIONS FOR A BUSINESS LOAN
1. MAXIMUM AMOUNT: SHS 100,000,000(One hundred million shillings)
2. MAXIMUM PERIOD: 24months
3. INTEREST RATE: 5% reducing balance - Negotiable for clients who are taking bigger loans.
4. TYPE OF COLLATERAL NEEDED:
i. Land sales agreement shs 500,000 – 5millions
ii. Carlog books – shs 500,000 – 20 million - A trucker to be put if client is taking above 10million
iii. Land title – shs 1M -100MILLION
5. CLIENTELE CATEGORY: All types of businesses excluding gambling and bars
6. GUARANTORS NEEDED: 3 guarantors including spouse - If someone is single we need two guarantors
7. SECURITY EVALUATION:
i. Search on both land title and car log book to be done,
ii. Boundaries must be opened and valuation reports (loans of 5million and above).
iii. Values of securities must double loan amount approved to the client.
iv. Company search and registered resolution to borrow
v. Audited books of accounts or its equivalent for loan above 50Million
vi. 3 most current years trading license and other operational licenses