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+254 733 553 555
Member Of
+254 733 553 555
Member Of
LOLC Kenya MFB offers 3 types of working capital loans as shown here below:
Short-Term Working Capital Loans:
Our Short-Term Working Capital Loans cater your short-term working capital
requirements such as meeting operational expenses, immediate stock purchases, filling timing gap in outflows and inflows. Further, same provides the required funding to secure pricing advantages and sudden business opportunities. The repayment can
be in monthly instalments or as a capital bullet depending on the pattern of the
cashflows.
Minimum amount: Ksh.50,000
Maximum amount: Ksh.3,000,000
- Kenyan Citizen between age of 18 years and above.
- Partnerships.
- Limited Companies.
- Must have operated an active bank account for a minimum period of six months or proof of income.
- Business clients must have experience of not less than one year
- Must open a current account with LOLC Kenya Microfinance
Bank PLC
24% p.a. on Flat Rate.
- Joint registration and chattel mortgage on Motor Vehicles.
- Cash held in fixed account or savings accounts held under lien.
- Land Charge.
Credit Insurance is required on all loans for Death and Disability (1.25% p.a.).
- Comprehensive insurance over the motor vehicle with LOLC KENYA MICROFINANCE Bank’s interest noted as the first loss payee.
- Charge on land that is used as security.
- Mortgage Insurance, where applicable.
Minimum Period: 3 Months
Maximum Period: 6 Months.
Payment of interest monthly. Bullet payment of Principal and any other outstanding interest at the end of the loan period.
Mid - Term Working Capital Loans:
Mid-Term Working Capital Loan provide you the capability of settling the borrowing obtained for the working capital requirements over a comparatively longer tenor, so your cashflows don’t get constrained. The comparatively longer repayment period
provides you the ease of planning your business growth so the enhancement of the revenue..
Minimum amount: Ksh.50,000
Maximum amount: Ksh.3,000,000
- Kenyan Citizen between age of 18 years and above.
- Partnerships.
- Limited Companies.
- Must have operated an active bank account for a minimum period of six months or proof of income.
- Business clients must have experience of not less than one year
- Must open a current account with LOLC Kenya Microfinance
Bank PLC
24% p.a. on Flat Rate.
- Minimum Period: 1 month
Maximum Period: 48 Months
Monthly
Overdraft Facility (On Demand):
Overdraft facility provides a convenient mean to manage mainly the permanent
working capital requirements of your business, which include but not limiting to
managing the gaps in cash receipts and cash payments in day-to-day business
operation and during business cycle, having a readily available credit limit to source the required financing for stock purchases and operational expenses, enhancing the operational level through providing trade credits, etc.
Minimum amount: Ksh.50,000
Maximum amount: Ksh.3,000,000
- Kenyan Citizen between age of 18 years and above.
- Partnerships.
- Limited Companies.
- Must have operated an active bank account for a minimum period of six months or proof of income.
- Business clients must have experience of not less than one year
- Must open a current account with LOLC Kenya Microfinance
Bank PLC
24% p.a.
- Joint registration and chattel mortgage on Motor Vehicles.
- Cash held in fixed account or savings accounts held under lien.
- Land Charge.
Credit Insurance is required on all loans for Death and Disability (1.25% p.a.).
- Comprehensive insurance over the motor vehicle with LOLC KENYA MICROFINANCE Bank’s interest noted as the first loss payee.
- Charge on land that is used as security.
- Mortgage Insurance, where applicable.