If you want a loan for your small business in Kenya with low interest rate, here is where to apply:

National Bank

Jenga Biashara Loan

The Jenga Biashara loan is a small business loan, specially designed to help you expand your business. Enjoy one of the quickest business loans in Kenya of up to KSh 5 Million with the benefit of insurance cover on the assets purchased.

What is required

• One year business operation
• 12 months statement for non-National Bank customers
• Business permit and certificates
• Business records

Rates and fees

• Interest rate – 13% (CBR rate 9% plus Bank Variable margin of 4%)
• Application fee – 3%
• Credit life and Stock loss insurance cover – 1% of the approved loan amount

Equity Bank

Agent Float Financing

You now don’t have to worry about running out of cash for your Agency business. Agency float financing allows you to apply and get an instant loan to continue running your business.

The loan is availed into your Equity agent transaction account to enable you continue transacting when you run low on float.

With this loan, you will always have enough float to serve your customers who wish to deposit money or make payments at your Equity Agent.

Frequently Asked Questions

1. Who is eligible for Agent Float Financing?

This loan is available to all Equity Agents.

2. How do I access Agent Float Financing?

This loan is available on both agency STK and POS. However, for first time application you will be required to visit your nearest Equity Branch to sign up.

3. How do I check my Loan limit?

Upon successful sign up at the branch, go to your Agent Equitel Line > Select My Account > Select Balance Inquiry > Enter PIN and you will receive an SMS confirmation with your loan limit.

4. How long does it take to get the loan application?

Upon successful application, the loan is available instantly into your Agent transaction account.

5. How do I grow my loan limit?

Growing your limit is easy. Simply transact more with your agent account through deposits and withdrawals. The higher the transactions, the higher the loan limit.

6. What is the loan repayment terms?

The loan has a flexible repayment period of upto 5 days at a fee of 0.5%.

7. Am I eligible for agent float financing loan if I have another loan with the bank?

Yes. You are eligible for this loan provided all the other loans are performing well and you have ability to repay this loan.

8. Can I access more than one loan at a time?

Yes, with agent float financing, you can borrow a second loan as long as you are within your loan limit.

9. Are there penalties for late re-payment?

Late repayment is highly discouraged as it lowers your loan limit and may lead to cancelation of the loan limit. Always repay your loan within 5 days to avoid the loan being charged at the Bank’s interest of 13%.

10. What happens if I fail to pay the loan within 5 days and I have not utilized the full limit?

The unutilized loan limit cannot be accessed. You will be required to repay your overdue loan to continue accessing this loan. You are encouraged to repay your loan in time so that you do not lower your loan limit.

11. Can the bank cancel my loan limit?

Yes, the loan limit can be removed if you fail to repay your loans on time, ceases to be an Equity Agent or in the event the bank deems it necessary.

12. Must I borrow the maximum loan limit allocated?

No. You can borrow any amount within your loan limit.

13. I am a super-agent can I stop a sub-agent outlet from consuming the loan limit?

Yes. All you need to do is inform the Branch for consideration and the branch will deactivate the loan limit.

Mortgage Finance

This is a loan facility that enables you to borrow funds towards purchasing real estate property.

Great Features

1. Enjoy quick loan processing.
2. Repayment terms have been made flexible.

For charges applicable to this product/service,refer to the tariff guide available on this link. 

 

What you require to sign up

1. You need to be an active account holder with Equity Bank.
2. Copy of PIN certificate of the company
3. Memorandum and articles of association for companies registered prior to 2015
4. Copy of ID/passport for all directors
5. KRA PIN certificate for all directors
6. Latest annual returns and CR-12 and a filing receipt from Registrar of Companies office
7. Current tax compliance certificate
8. Board of Directors resolution to borrow & pledge security duly sealed
9. Submit your loan purpose for financing business working capital and operational needs
10. Submit your loan application within a reasonable time.
11. Clearly demonstrate the existence of other sources of income that could be used for loan repayment.

• Why you should sign up for this product
  1. This includes insurance of the building.
  2. The building is capable of generating income via rental income.
  3. The package includes value added services such as negotiated legal fees, valuation services and competitive commitment and entry fees.
  4. Investment advisory services are inclusive.
  5. The repayment period on Home Purchase is a maximum 20 years while on Commercial Property Purchase it is a maximum 10 years.

Construction Loan

This is a loan facility that enables you to borrow funds towards constructing a building for residential use or as commercial premises.

Great features

1. Enjoy quick loan processing.
2. Repayment terms have been made flexible.
3. Loan tenure of up to 10 years

For charges applicable to this product/service,refer to the tariff guide available on this link. 

 

Easy Steps to get this loan

• You need to be an active account holder with Equity Bank.
• Submit your loan application indicating loan purpose and operational needs of the business
• Clearly demonstrate the existence of income that could be used to repay the loan.

What you require to sign up

1. You need to be an active account holder with Equity Bank.
2. Copy of PIN certificate of the company
3. Memorandum and articles of association for companies registered prior to 2015
4. Copy of ID/passport for all directors
5. KRA PIN certificate for all directors
6. Latest annual returns and CR-12 and a filing receipt from Registrar of Companies office
7. Current tax compliance certificate
8. Board of Directors resolution to borrow & pledge security duly sealed
9. Submit your loan purpose for financing business working capital and operational needs
10. Submit your loan application within a reasonable time.
11. Clearly demonstrate the existence of other sources of income that could be used for loan repayment.

Security

• The asset financed.
• Tranche disbursement
• Certificate of completion

• Why you should sign up for this product
  1. The repayment period is a maximum 10 years.
  2. The products are tailored to support the specific needs of the business.
  3. Negotiated legal fees
  4. Valuation services and competitive commitment and entry fees.
  5. Negotiated Insurance premiums
  6. Advisory and business development services are also inclusive.

KCB Bank

SME Term Loans

Choose between a secured or unsecured loan up to Kes. 250 Million, payable over flexible repayment periods, giving you access to financing to drive your business current and long-term goals.

Benefits

High loan limits

Access secured loans of up to Kes. 250 Million, and unsecured of up to 3 Million

Flexible repayment period

Repay your loan within your desired duration up to 36 months for an unsecured loan and 60 months secured term loans

Competitive Interest rates

Friendly interest rates on the term loan, giving you lower cost of credit

What We Need From You*

• Breakdown of total project cost and financing plan
• Audited Accounts for the last 3 years for amounts above Kes. 5 Million

*A bank representative may call you at any time to obtain further information in line with our KYC process. At no point shall you be asked for your PIN or passwords.  Remember, PIN yako siri yako.

Loan Rates & Fees*

• Competitive rates

Faulu Bank

Biashara SME Loan

What’s in it for you?

• Flexible collateral requirements
• Flexible repayment terms
• Top-up feature available
• Specialized Individual Lending Officers
• Loan term of up to a maximum of 84 months

How does it work?

SME Business growth needs :

Biashara SME-Working Capital:

• Working Capital/Business Expansion/Stocks
• Import/Export Financing
• LPO Financing and Invoice Discounting
• Trade Finance Solutions
• Bid and Performance Bonds
• Letters of Guarentee

Biashara SME-Development:

• Acquisition of Movable and Immovable assets/Equipment
• Acquisition of Plots, Land, Buildings, Project Finance, Construction and other Capex Needs

How do I apply?

• Must be a registered business
• Operative account to be opened and all business proceeds to be channeled through Faulu
• Fill in our application form
• 6 months certified bank statements
• Latest management accounts as at the time of application for Loans above Kshs1.5 M
• Annual Returns for the last 3 years for Companies
• PIN Certificate / National I.D copy
• Copies of Trading License and other specialized licenses where applicable

How do I secure the loan?

Flexible Collaterals Subject to risk assessment and appraisal with the following options :

1. First legal charge over the title deeds, joint registration and chattels mortgage over motor vehicles. Furthermore; lien on quoted shares, fixed cash held on FDR account and Lengo Account etc. The loan limit will be set from time to time.
2. Where securities in 1 above are insufficient Fixed and Floating Debenture overall Company Assets to be registered as additional security. The loan limit will not exceed KSHS. 100 Million and a loan term of up to 72 Months.

Directors Personal Guarantees and Indemnity

2.2 Transfer of Shares form signed in blank by each of the Shareholders

2.3 Letter of Authority to transfer shares signed by each shareholder

2.4 Original Certificate of Incorporation

2.5 Original Memorandum and Articles of Association

2.6 Original Share Certificates

2.7 Original Lease for the Business Premises

2.8 Credit Life, Key Man Insurance to be negotiated

2.9 All perils insurance for company assets including stock to be organized from reputable companies in our Panel and Faulu Interest Duly noted on the Policy

2.10 Fire and all perils for Houses, Comprehensive Insurance for Motor Vehicles offered as security to be obtained from reputable companies with Faulu Interest Duly Noted on the Policies

HFC Group

SME Loans

Unsecured Loan

This is a short-term facility available for business customers to facilitate business expansion

Features & Benefits

• Loan amount up to Kes. 10,000 to Kes. 2M
• Loan duration is 12 months
• Competitive interest rate
• Quick processing

Requirements

• ID, KRA Pin, passport photos of Directors
• Company KRA PIN
• Registration certificate
• Business licence
• 12 months bank statements

Term Loan

This a secured facility available for business customers to facilitate business expansion

Features & Benefits

• Maximum amount based on purpose and serviceability
• Maximum period of 60 months

Requirements

• ID, KRA Pin, passport photos of Directors
• Company KRA PIN
• Registration certificate
• Business licence
• 12 months bank statement
• Copies of security document

Stanbic Bank

SME Bizna loan

What you get

• Maximum loan amount of Kes 3 million
• Top-ups available after 6 months satisfactory repayments
• Credit life and fire burglary insurance

Documents required

• Duly constructed business financial statements for at least 12 months
• Certified 12 month bank statements
• Business Licences
• Minimum of 3 years trading history within local markets to support loan amounts

Bank of Baroda

Corporate/SME Loans

Benefits

• Simple applications process
• Quick approvals
• Attractive Rate of Interest
• Zero processing Charges
• Easy terms

Corporate/SME Loans : Key Features

Borrower:

Borrower may be Sole Proprietorship, Partnership, Limited Liability Company, or any other type of constituent permissible under the law, subject to compliance of the relevant formalities and on fulfilment of the Bank’s eligibility criteria and other loan specific terms and conditions.

Sectors:

Export Finance, Manufacturing, Trade, Building & Construction, Tourism, Hotels & Restaurants, Agriculture, Energy, Telecommunications, Service sector etc.

Type of Facility: 

The Bank meets the borrower’s financial requirements through Fund-Based (FB) or by way of Non-Fund Based (NFB) facilities.  Fund Based credit facilities are extended by way of Overdraft, Demand Loan, Term Loan, Import Finance Pre-shipment, Post-shipment and Bills Purchase/Discounting facilities etc.  Non-Funded facilities are extended by way of Letter of Credit, Guarantees, Co- Acceptance (Bill Avalisation) etc.

KCB Bank

KCB MSME Loan Offer

KCB MSME Loan offer has been designed for our business customers in response to the current harsh economic times. We’re providing a financial cushion to help maintain liquidity for your working capital or to enable you to acquire trading assets.

What we need from you

• Be an active KCB account holder for at least 6 months
• Business account annual turnover of between KES 500,000 to KES 100 Million.
• Must be a registered business (MSME) in Kenya
• Provide Business registration certificate
• Provide a valid business permit or trade license from the county government.
• Have a tax compliance certificate
• Borrower must have been in operation (viably) for at least 2 years.
• Must be a credit worthy MSME.
• Have a positive CRB listing
• Be compliant with the bank’s Environmental Risk Management Guidelines where applicable

Visit your nearest branch or contact your relationship manager to apply.

Access to interest rates and negotiation fees discounted by 1%*

Attractive loan limits with flexible repayment period

Get a loan of up to KES 5 Million with a flexible repayment period of up to 36 months

I&M Bank

I&M Business Loan

Overdraft: A revolving short-term facility used mostly by businesses to meet their short-term working capital needs.

• Extended for working capital requirement
• Interest linked to the Bank’s Base Lending Rate or Foreign Currency Base Lending rate (for foreign currency), charged quarterly
• Available in KShs, US Dollars, GB Pounds and Euro

Term Loans Term loans are given to businesses for:

• Purchase of long-term assets such as land, buildings, machines and motor vehicles
• Construction Loans/Real Estate Development Loans
• Asset Finance – New and used Motor vehicle and machines purchases
• Business acquisitions
• Business expansions
• Agri-production, Agri-processing loans
• Short loans for working capital needs

Notes Please read carefully

• Interest linked to the Bank’s Base Lending Rate or Foreign Currency Base Lending rate (for foreign currency)
• Available in Kenyan Shillings, US Dollars, GB Pounds, and Euro

Bank of Africa Kenya

This is a short to medium term loan granted to customers to finance Expansion and the growth of their business i.e. working capital and business expansion

Target Market

We target Small and Medium enterprises operating in: – Transport, Trade and Commerce, Construction, Manufacturing, Education, Health & other services sector.

Value range

Minimum kes100,000 – Maximum based on client ability to pay

Product features

• Secured by a combination of any acceptable tangible securities such as title deeds, log books, listed shares, cash cover etc.
• Interest rate as per CBK regulation
• Interest rate calculation payable in arrears on reducing balance or flat rate
• Method of loan repayment either EMI or as per the customer cash flows.
• Loan advanced both in Kenya shilling and foreign currency
• Overdraft limit to be advanced for a maximum period of one year renewable
• Trade loans i.e. invoice discounting, LPO, contract financing, certificate financing to be advanced for a maximum period of one year

Credit Conditions

• 12 months bank statement with Maximum EMI(Equated Monthly instalment) of 30% of MACAT(monthly Average Credit Account Turnovers)
• Provide documentary evidence of at least three year experience in the line of business
• Good credit history
• For limited companies Specific debenture over the asset being purchased

Eligibility Items

• KYC documents i.e. directors ID and PIN, Company PIN, MEMART and certificate of registration
• Business records
• Copy of security
• Dully completed loan application as per account mandate and appraisal form, resolution to borrow.
• Current Valuation Report from bank’s authorized valuers is required for used motor vehicles
• Complete security perfection after the approval.
• Detailed call report including photos and sketch maps

Paramount Bank

Business Loans

Features & Benefits:

• Easy and affordable monthly installments
• Medium/Long term loan
• Repayment is on installment date
• Interest on loan balance is accrued daily Available in BOTH Local and Foreign Currencies
• Available for Sole Proprietorships / Companies

NCBA

Secured Business Loan

Our secured business loans are available to businesses and individuals in business who need to finance expansion or diversify their business assets. Get a loan with a flexible repayment period of up to 60 months, whether you are a customer or non-customer in business.

Features

• Loan amounts are tailored to fit your business needs.
• Flexible security options.
• Repayment period is assessed on existing business cash flow and cash flow projection.
• Maximum tenor period of up to 5 years for capital expenditure (CAPEX) and 3 years for working capital.

Working Capital Loan

Target: Groups, individual members in groups, Individual loans to non-group persons and SMEs

Features

• Client needs to be running a business
• Competitive interest rates
• Repayments through M-PESA.
• Grace period of up to 1 month

Requirements

• Duly filled loan application form
• Copy of ID/passport & Pin
• Copy of registration certificate for groups
• Copy of group registration certificate
• Utility bill

Family Bank

Biashara Boost Loan

Biashara Boost Loan is specially designed for micro-businesses that require funds to expand their existing business line(s) profitably. The product gives you access to financing of up-to Kes. 5 Million with eligibility to top-up existing loans making use of flexible collaterals and enjoying flexible repayment periods of up to 36 months.

Features

• Borrow flexible amounts ranging from Kes. 5,000 to Kes. 5 Million
• Flexible repayment period of up-to 36 months
• Eligibility to top-up existing loans

Benefits

• Flexible security requirement
• Fast loan processing

Requirements

• A 6-months banking relationship with Family Bank
• New customers from other financial institutions are also eligible
• Business MUST have been operational for at least twelve (12) months
• Ability to repay the loan MUST be clearly demonstrated

Kingdom Bank

Unsecured Business Loan

It is a loan facility that provides the working capital for business operations and expansion. It is suitable for retailers, distributors, wholesalers, hardware shops etc.

FEATURES:

• Unsecured loan of up to Kes 3,000,000
• Business stock can be used as security
• Free LNM & KB M-collection linkage
• Consideration of the other banks’ statements, where applicable
• Business registration documents

UBA Bank

SME Banking

Benefits

Doorstep banking: Get the convenience of banking at your doorstep rather than ferrying the cash to and from the nearest branch.

• No cash handling fees
• Access to online banking as per the bank’s tariff
• Unlimited withdrawals
• Access to loan facilities and overdrafts
• Cheque book available

UBA X AfCFTA

We are committed to supporting SMEs across Africa

Who can benefit?

• Traders
• Sole Proprietors
• Corporate Banking Customers

Focus Industries

• Agro-processing
• Pharmaceuticals
• Automotive
• Transport and Logistics

Standard Chartered Bank

Business Working Capital

Eligibility & Documents

Eligibility

• Sole proprietorships, Partnerships or Private Limited Companies
• Business registered in Kenya
• Minimum 3 years of business operations

Documents Required

• ID or Passport of all directors/shareholders/guarantors
• Board of Directors’ resolution
• Memorandum & Article of Association (or Constitution)
• Certificate of incorporation/registration
• Latest 6 months bank statements of main operating account
• Latest audited financial statements (if applicable)
• More details to be provided by the sales officer

Cooperative Bank

MSME Term Loan

Keep your business running with an MSME Term Loan

Features

Amount of unsecured term loan

• Bronze: Kes 600,000.00
• Silver: Kes 6,000,000.00
• Gold: Kes 10,000,000.00

Fully secured term loans

Up to 24 months repayment for unsecured borrowing

Up to 60 months repayment period for secured borrowing

Requirements

MSME LOANS – Flat rate

• Interest Rate – (BBR +4%)
• Application/ Negotiation Fees – None
• Appraisal Fees – 2.5%
• Max Tenor – 36 months

MSME LOANS- Reducing balance

• Interest Rate – (BBR +4%)
• Application/ Negotiation Fees – Kes. 3,000.00-Kes. 15,000.00 (depending on amount)
• Appraisal Fees – 3%
• Max Tenor – 36 months

Kenya Women Finance Trust(KWFT)

SME

Large scale entrepreneurs and entities find it difficult to access capital to expand their businesses comes in handy with an SME financing solution tailor-made for these entrepreneurs and entities to expand their existing businesses.

Benefits

• Competitive interest rates
• Flexible security requirement
• Flexible loan amounts
• Longer repayment period of up to 7 years

What is required to apply for this loan

• Own a stable large business/ an income generating venture
• Bank statement for the last six months
• 2 guarantors
• Flexible collaterals