The Small Business Loan, is a short to medium term credit facility aimed at  financing business growth in the Small and Medium business segments.

Features:

Loan amount.

• Minimum Loan Amount: 1m
• Maximum:                           Below 100M.

Repayment period

• 2 years depending on collateral offered.

Repayment mode

• Bi-monthly, monthly& quarterly depending on a client’s business cash flow cycle.

Requirements

• Application Form
• Business Trading license.
• Bank Statement for at least 6 months.
• Cash flow projections for at least 12 months – to be prepared by the Bank’s Relationship Managers after looking at basic source documents, interviewing the customer and visiting the client’s business premises.
• Copy of Valuation report prepared by a bank-approved valuer(s) where applicable.
• Client to sign affidavit in addition to land sales agreement.
• Spousal consent for all security where applicable

Acceptable securities

• Title deeds.
• Equitable mortgage.
• Discounted FDs/TBs.
• Motor Vehicles.
• Plant and Machinery.
• Kibanja agreements.
• Movable Chattels.
• Lockup titles (sub-leases and certificates issued by the Municipal).
• Stock of goods where applicable.
• Guarantors will be required where necessary.
• Credit life insurance for customers with movable collateral(where applicable).