
Main features
- Business/economic activity
- Interest on loan: 3.16% per month on a reducing balance
- Loan amount: 100,000= – 30,000,000=
- Loan period 1 – 24 months
- Grace period – one month on request by the client
- Repayment frequency is monthly
Requirements
- Application fee 20,000
- Collateral in form of loan security fund and the asset purchased eg. land titles, log books, sales agreements, and collateral substitutes.
- 1% Insurance on all Loans against death and disability.
- 5% initial deposit (refundable after loan repayment)
- 4% Loan Processing fee
- Credit Reference Bureau Report