ASA International Loans in Kenya

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ASA international offers 4 types of loans, small loans,school fees loans,boda boda loans and business loans.Details of those loans are as follows:

—-Small Loans

This product aims at empowering women who have small businesses of low income. The individual businesswomen interested in this product must be willing to form a group of between 15 to 25 members, however they can start with five members but increase the number to be able to get the small loan.

Key Features

Member Admission feesApplicable
Loan Processing FeesApplicable
Frequency of meetingWeekly
Cash Collateral against principal loanApplicable
Interest of savingsNot Applicable
Type of loan productGroup based small loan with individual liability (female  only)
Loan size (1st cycle)KSH 25,000
Loan duration6 months and 10 months
1st loan disbursementAfter two weeks
Loan increment each cycleMaximum KSH 15,000
Service charge/Interest RateApplicable
Mode of repaymentWeekly
1st instalmentAfter one week
Number of instalment25 for 6 months loan and 40 for 10 months loan
Loan insurance/risk premiumApplicable
Risk coverLOP will be written-off in case of borrower death
Advance instalmentLast 4 instalment for 6 months loan, 5 instalment for 10 months

—–Small business loan

This loan product is designed for those who already have a business and need access to working capital or to capital for expanding their business, but cannot be enrolled in the Small Loan Program or want to be graduated from the Small Loan program. The product supports both women and men with small and medium scaled businesses

Key Features

Member Admission feesApplicable
Loan Processing FeesApplicable
Frequency of meetingNo Meeting
Cash Collateral against principal loanApplicable
Interest of savingsNot Applicable
Type of loan productSmall Business Loan to Individual (both male & female)
Loan size (1st cycle)KSH 100,000
Loan duration5 months and 10 months
1st loan disbursementAfter one week
Loan increment each cycleKSH 30,000
Service charge/Interest RateApplicable
Mode of repaymentWeekly/Monthly
1st installmentAfter one week/After one Month
Number of installment20 weeks / 5 months or 40 weeks / 10 months
Installment5 months weekly/monthly OR 10 months weekly/monthly
Loan insurance/risk premiumApplicable
Risk coverLOP will be written-off in case of borrower death
Advance installmentNot applicable if it is monthly for 5 months

—–School fees loan

This loan product is designed to help those clients with small loan or small business loans pay school fees for their children in primary, secondary and college. The clients should have completed at least two consecutive cycles without any issues in the loan repayment.

Key Features

Member Admission feesNot applicable
Loan Processing FeesApplicable
Frequency of meetingNot applicable
Cash Collateral against principal loanNot applicable
Interest of savingsNot applicable
Type of loan productSchool fee loan for client’s children
Loan size (1st cycle)Maximum KSH10,000
Loan duration4 Months
Loan increment each cycleNot Applicable
Service charge/Interest RateApplicable
Mode of repaymentMonthly
1st installmentAfter one Month
Number of installment4 Monthly installments for 4 months
Installment4 monthly installment
Loan insurance/risk premiumApplicable
Risk coverLOP will be written-off in case of borrower death
Advance installmentOne last installment

—-Motor cycle loan

This loan product is designed for those who need a motorcycle as their source of income. The product has a direct impact on creating employment.

Key Features

Member Admission feesApplicable
Loan Processing FeesApplicable
Frequency of meetingNo Meeting
Cash Collateral against principal loanApplicable
Interest of savingsNot Applicable
Type of loan productMotorcycle loan (Individual)
Loan size (1st cycle)KSH 100,000
Loan duration6 months and 12 months
1st loan disbursementAfter two weeks
Loan increment each cycleNot Applicable
Service charge/Interest RateApplicable
Mode of repaymentWeekly
1st instalmentAfter one week
Number of instalment25 weeks / 6 months or 50 weeks / 12 months
Instalment50 Weekly instalments or 12 Monthly instalments
Loan insurance/risk premiumApplicable
Risk coverLOP will be written-off in case of borrower death
Advance instalmentLast 5 instalments ONLY for weekly instalments term.

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