Business Loans (group based loans)
1. INUKA
Features: - Inuka I: is a maximum of Kshs.20, 000.
- Inuka II: is a maximum of Kshs.40, 000.
- Loan size – Kshs.20, 000 – 40,000
- Repayment period – 26 weeks for Kshs.20, 000 and 39 weeks for Kshs.40, 000.
- Loan Repayment period is 1year maximum.
Requirements: - Age – 18 years and above.
- Demonstrate an ability to repay the loan.
- Nationality – Kenyan I/D or passport.
- Business size stock of Kshs.1, 000 – 25,000.
- Business type – Trade, Services, Manufacturing.
- Willingness of ability to attend group meetings.
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Booster Loan
This is a product designed to top up your working capital. SMEP understands sometimes as a business person, you may need an additional capital to enable you run your business and make that dream come true. Run for the booster loan today. Features - Loan size maximum Kshs.50, 000
- Savings requirement 15%
- Period of payment: 3 or 6 Months
- Security – group guarantee, pledges, personal
Requirements - Demonstrate an ability to repay the loan.
- Should have portrayed consistence in repaying Inuka I and consistency in savings.
- Ability/willingness to service both.
- Must have a good credit history from the previous loans
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Business Loans (Individual Loans)
These are loans given to an individual who wants to expand their business and they need not to be in a group. Features: - Raise the value of pledges to 200%.
- Either of applicant or the two guarantors to be permanent residents i.e copy of title deed to evidence this.
- Compulsory 6 months bank statements.
- Business run for a tleast 1 year.
- Resident & business maps for both applicant & two guarantors.
Karo Loan
This is a loan given to finance school fees. The product is designed to ease the financial stress without necessarily reducing your working capital. Features - Loan size Kshs.50, 000
- Repayment period 3,6,9,or 12 months
- Savings 25% of loan size
- Processing period – 1 week
- Payee: School/ Institution
Requirements - Demonstrate an ability to repay the loan.
- Must have a good credit history from the previous loans
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