Maximum loan amount is 25% of turnover for the last 12 months.
Maximum Tenure: Renewable annually
Loan to Value Ratio: Standard loan to value ratio applies
The Business must have operated for at least 2 years. This does not apply to customers offering deposits as security.
You must have been a customer of the bank for at least 6 months. Where the customer is new to the bank, 12 months bank statement must be furnished.
Trading and manufacturing businesses should be able to show evidence of the value of stocks purchased or credit sales which account for the financing need.
Service businesses should be able to demonstrate that the period between their production and delivery of a service and the collection of billing invoices is reasonably short. Activity must be regular and predictable. Care should be taken with service businesses with long lead times or customers who are known to be slow payers.
The borrower must have clear and proven source of repayment – already existing income streams that are sufficient to meet expected repayment.
Repayment ability will be based strictly on existing business.
The business should not be in prohibited list as defined in NIC Group Policy
No adverse Credit Reference Bureau (CRB) report.
Industry of the borrower must have positive outlook
Audited accounts must be provided for amounts above KES 15 Million.