SME Unsecured Hybrid Financing

SME unsecured hybrid financing is granted to SMEs which have operated for not less than 2 years and private schools.

Features:

• Minimum facility amount is KES 1,000,000
• Maximum facility amount is KES 5,000,000
• Flexible security i.e. stock, logbook, title deed and chattels mortgage
• African Guarantee Fund (AGF) credit risk guarantee cover
• Maximum Financing tenor is 2 years
• 100% financing
• Availability of top up facility

Requirements:

• Original and copy of certificate of registration or incorporation
• Certified copy of documents, where applicable, showing how the business or organization is governed
• A resolution authorizing the request for financing and person(s) to act on behalf of the business or organization
• A resolution authorizing the request for utilization of AGF credit risk guarantee cover
• Original and copy of identification documents of person(s) authorized to act on behalf of the business or organization
• Original and copy of the business or organization’s KRA PIN certificate
• Original and copy of current business license
• Certified bank statements for the latest 12 months
• The application form must clearly indicate the purpose of the funds
• The business or organization must have been banking with the Bank for at least 1 year at the time of application for facility
• Letters of offer for the running credit facilities
• Certified pay bill or till number collection accounts statements are acceptable
• The business or organization must be trading in business