Collateral Backed Business Loan
Provides the business with access to financing backed by a Motor Vehicle or Property owned
by the business. Minimum loan value of K10,000 and maximum of K200,000.
Requirements are as follows;
- Certificate of incorporation
- Tax clearance certificate
- PACRA printout (obtained in the last 1 month)
- I.Ds of shareholders
- Proof of residence of shareholders
- I.D of applicant (if different from shareholders above)
- Proof of residence of applicant (if different from shareholders above)
- Latest two months bank statement or mobile money statement
- Board resolution to borrow
- Original ownership document for pledged collateral (motor vehicle (runner) or property)
- Mandatory motor vehicle comprehensive insurance (where motor vehicle has been pledged as collateral)
Receivable Backed Business Loan
Provides the business with immediate cash against a confirmed invoice or fulfilled order.
Up to 70% of the invoice value can be given as a loan.
Requirements are as follows;
- Certificate of incorporation
- Tax clearance certificate
- PACRA printout (obtained in the last 1 month)
- I.Ds of shareholders
- Proof of residence of shareholders
- I.D of applicant (if different from shareholders above)
- Proof of residence of applicant (if different from shareholders above)
- Latest two months bank statement or mobile money statement
- Board resolution to assign invoice
- Copy of invoice with payment terms