SMEP MFB Insurance Loans shall be accessed by all Kenyans who open an account with SMEP.
General Eligibility criteria
The applicant for IPF Loan shall meet the following criteria. The applicant must:
- Be a Kenyan citizen.
- Be at least 18 years of age and not above 70 years of age at entry.
- Get a quotation/ invoice from an insurer or Insurance Agent.
- An account holder with SMEP MFB
A minimum of ksh.15,000 and a maximum of ksh.1,000,000
Loan Period: 3months – 10 month for micro loans.
Grace Period: no grace period
Repayment frequency: Monthly repayment plan.
- Copy of ID
- Copy of KRA Pin
- Copy of logbook
- Premium Quotation
- IPF loan form
- Valuation report/slip
- The 1st installment