Eligibility Criteria
Customer to maintain an active account with the bank for at least six months.
Customer to have serviced their previous loans without default.
Maximum repayment obligation of Net Household Income (NHI).
Target
Microenterprises in a business operated for at least 24 months.
Loan Amount
Minimum of KES. 300,000.00 except for repeat customers.
Maximum of KES. 3,000,000.00
Loan Disbursement
Loan installments to be booked on a weekly or monthly basis as per client’s request.
Collateral
The borrower provides cash collateral of at least 10% and the rest to be fully secured by tangible security.
Stock hypothecation supported by all risk insurance with the bank as a 1st loss payee to the extent of the borrowing. (Offered Sidian Insurance Agency)
Loan Tenor
Maximum 24 months.
Loan Amount
Minimum of KES. 20,000.00
Maximum of KES. 3,000,000.00
Loan Disbursement
Loan installments to be booked on a weekly or monthly basis as per the client’s request.
Pricing
Interest at the prevailing market currently at 13%
Appraisal and disbursement fees at 3% and KES. 1,000.00 chattel registration.
Target Customer
Customer to maintain an active account with the bank for at least six months. Serviced their previous loans without default.
Maximum repayment obligation of Net Household Income (NHI).
Collateral
20% cash collateral prior to application and disbursement.
The customer must maintain an active account with the bank.
Amounts above KES. 1,000,000.00 shall be secured using cash collateral, fully charged log books and title deeds.
Stock hypothecation supported by all risk insurance with the bank as a 1st loss payee to the extent of the borrowing. (Offered by Sidian Insurance Agency)
Loan Tenor
Maximum 24 months.
Loan Amount
Minimum of KES. 20,000.00
Maximum of KES. 3,000,000.00
Loan Disbursement
Loan installments to be booked on a weekly or monthly basis as per the client’s request.
Pricing
Interest at the prevailing market currently at 13%
Appraisal and disbursement fees at 3% and KES. 1,000.00 chattel registration.
Features
Client contribution of 20% to be held by the bank throughout the process of purchase
Operational Till/Paybill number.
An active account held at Sidian Bank (not less than six months)
12 months of statements from the previous bank
Transfer of NHIF and insurance proceeds. (for hospitals)
3% Facility Fees
1.5% annual renewal fees
Collateral
Chattels mortgage over business assets and machines to be bought.
Debenture on the asset being financed