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, which is mandatory.
- 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
