Bimas Kenya Loans, application requirements, amount, interest rates

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Below is a list of loans offered by Bimas Kenya, application requirements, amount awarded and interest rate for each loan:

—–Logbook loans

This is a quick loan on your logbook offered to all our clients. One can access a loan ranging from Ksh100,000 up to KES 1,000,000. Money disbursement is done within 48hrs, it has a flexible repayment plan, friendly interest rates, and financing ranges from 50% to 70% of your vehicle value.

—-Agribusiness Loans in Kenya

Bimas Kenya offers Agribusiness loans to finance the purchase of farm inputs by farmers who are engaged to produce crops as seeds, chemicals, fertilisers and related farm operation activities. Agribusiness loan product enables farmers to acquire a wide range of farm animals and invest in high breed dairy cows, poultry, dairy goat farming, sheep, rabbits, beekeeping, and fish farming among others.

Loan products under this category include Dairy/Mifugo loan, Chipukizi loan and Dhabiti loan. By taking Agribusiness loans from Bimas, we cater for all your crop and livestock value chain needs.

Business Loans in Kenya

Finding business financing in any economic climate can be challenging, whether you’re looking for start-up funds, capital to expand or money to hold on through the tough times. But given our current state of affairs, securing funds is as tough as ever. A wise entrepreneur knows how significant it is to take every opportunity on the way.

To help you find the money you need, BIMAS Kenya offers you the opportunity to secure much needed funding to boost your business and its related activities. Business loans are designed to facilitate scaling up of businesses through accessing affordable financial services. Bimas does not only offers you a wide range of options, but also the flexibility to tailor your financing to fit your needs.

—-Biashara Loans (SME)

Biashara loans are available to businesses and individuals in business who need to finance expansion or diversify their business assets. In the changing economic climate, business loans can help strengthen your financial stability during lean periods. By registering as a member of Bimas, we assure to finance you upto Kes.1000,000 to ensure we boost your business and achieve the best out of it.

Benefits

1. Loan amounts are tailored to fit your business needs

2. Flexible Collateral requirements

3. Flexible repayment terms

4. You can get loan upto Kes. 1000,000

Requirements

1. Must be in legal business activity

2. Have business permit and pin certificate where necessary

3. In case of a company, certificate of incorporation is needed

4. Six months bank statement/MPESA statement

—–Assets Financing (Bodaboda Loans, Cars Loans, Tuktuk loans,)

If your dream has been to buy car for personal or commercial use and pay monthly at affordable price and flexible loan repayment period then Bimas Kenya is the partner to count on. With asset financing, we are able to finance our members to acquire moveable assets such as tuktuk, motorbikes, bodabodas and lorries.

Product such as Bodaboda loan enables members access funding for purchase of Boda Boda. BIMAS provides bodaboda loans to young entrepreneurs who want to venture into this business but lack capital to start.

Benefits

1. No additional security required, it’s self-securing

2. Flexible Collateral requirements

3. Extended flexible repayment period

4. Free insurance and tracking for the period of the loan

5. For the sake of the motorbike, you get motorbike the same day

Bodaboda Loan Features

1. Maximum of loan amount of Kes. 200,000 is given

2. Repayment period of upto maximum of 18months depending on the cost of the motorbike

3. Mandatory commitment fee of Kes. 14000 of first deposit

4. Daily repayment of Kes. 380 or weekly in advance.

5. Standandard installment amount and with one week claim settlement

—–Group Project Loans

Loans that are provided to individuals who have registered with a self-help group and have complied with rules and regulations governing such groups.BIMAS Group Loan provides financial services to business people for them to grow. These loans are provided to individuals who belong to a group whereby each member within that group guarantee one another. As a group looking to finance your big dream aimed at a common target, this loan facility is ideal just for those plans.

Benefits

1. Each member within that group guarantee one another

2. You can get a loan of up to Kes. 1000,000 depending on business performance

3. Extended flexible repayment period

4. Members of a group save each Kes. 200 per meeting

5. Provides a good opportunity for group projects to expand

Loan Features

1. Membership of at least 5 members and above

2. The group must be registered and recognized too

3. Repayment period of 3 months to 18 months of the loan borrowed

4. Group meetings are fortnight/monthly

5. Savings of of 10% of the loan amount borrowed

—–Investment Loans

Investment loan is a loan product given to members who would wish to finance purchase of an investment property. It can be put towards any type of real estate investing, whether it’s commercial real estate or residential.

If your chama is looking to invest, this loan product is a specially tailored loan to make funds available when viable group projects have been identified so that your chama can advantage of it and invest in it.

Benefits

1. Investment gains have the potential to reach financial goals faster

2. Provides a good opportunity for group investment projects to expand

3. Loan amounts are tailored to fit your investment project

4. Flexible loan security requirements

Loan Features

1. The group must be formally registered for borrowing purpose

2. Ability to pay loan must be clearly demonstrated

3. Group meetings are fortnight/monthly

4. Savings of of 15% of the loan amount borrowed

—-Consumer Loans, Personal Loans, Mortgage Loans, Education Loans in Kenya

Consumer loan is a loan product given to members to finance specific types of expenditures. Whether you are ready for your next set of wheels, upgrading your home appliances or just looking to purchase something special, then we have got you covered. For qualified borrowers, consumer loans serve a multitude of purposes and are essential in helping them to finance their life.

Some of the consumer loans you can get from Bimas includes personal loans, student education loans, mobile loans and maendeleo loans.

Personal Loans

Do not delay your plans to get cash immediately with our ease to process personal loans. You can borrow personal loan for any purpose whether debt consolidation, unexpected medical bill, purchase of new appliance, a vacation or even purchase of a present. Most of our personal loans do not require collateral. Some personal loans you can take from Bimas include mobi loans such as Digi@30, Digitika and Budget Booster

Student Loans

While recent economic times have proven difficult for many families, BIMAS Kenya limited offers provision of education loans to cater for the school fees of students and improve literacy amongst members to greatest heights. This product gives the students the assurance that they have an important role to play in their education and at the same time makes the need for affordable higher education acute.

—-Social Products Loans, Solar Systems, Clean Stoves & Water Purification Products

Bimas is creating a distribution channel to reach unserved and underserved markets including targeting rural, low income and poorly educated populations which are often neglected because they are difficult to reach and uneconomical to serve. We provide such clients with affordable financing options so that they can purchase life enhancing social products such as solar systems, clean stoves e.g Jikokoa, water purification products.

This product helps individuals and communities gain access to clean affordable, life-enhancing goods and services that save them time and money – making them and their loved ones healthier, more resilient and empowered to strengthen their lives and communities.

Cooking Stoves

Thousands of citizens use harmful fuels to cook their meals. The efficient Jikokoa cooking stove that Bimas is providing reduce harmful emissions and cook food much faster than an open fire. With clean stoves, women can typically save many hours a week compared to an open fire, while reducing fuel costs and deadly smoke inhalation

Solar Systems

A simple solar system helps clients extend their business hours, gives light for children to study and eliminates daily costs and tolls of a hazardous kerosene lamp. We have ensured solar systems are available to our client’s communities by creating partnerships with solar companies. Bimas is helping small enterprises to scale by providing financial solutions to them

The interest rate of all loan products range between 7% and 18% per year depending on specific loan amount .

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