There are various types of loans at Faulu Kenya and I have discussed them as follows.
Business Loans.
These target the land buyers, individuals, investments groups; small Sacco’s and land buying companies.
They are used for purchasing of lands for subdivision and sale and can access up to 100 % financing of the land development cost. One can access up to 350 Million on loan and get to enjoy low interest rates, long term payment plan of upto 84 months as well as emergency business loans.
Biashara SME Loans target small micro entrepreneurs
They have interest rates of 9.5 %, flexible repayment periods of 72 months, and business accounts with cheque books, distributor loans and land lord loans.
Asset Finance Loans
These target individuals, businesses and Chama groups. They feature business loans for interest rates as low as 9.5 % with a long repayment plan of up to 60 months and are used for purchase of personal cars, commercial vehicles matatus and motor bikes.
The Chama Loan
This loan targets family chamas, table banking groups and investment groups. The features of this loan includes, savings for investments, convenient savings account to pull resources together, flexible investment loans, access of up to 350 Million on loans, 72 months repayment period as well as interest rates as low as 9.5 %.
Ushirika Loan targets the church and eligible groups like the self help groups, chamas, and community based organizations and investments clubs. This loan is used for development projects and purchase of assets for both churches. The features include, low loan interest rates, 60 months repayment period and a longer grace period.
Biashara loans
This loan is meant to support women with small and medium scaled businesses to access affordable financial services. The features include flexible security requirements, monthly meetings and loan repayments, flexible loan amounts, business training, low processing fee, low monthly savings and loans from as low as 10,000 Kenya shillings. This requires groups of 15 -30 members to start.
Mwangaza loans
This loan is used to enable medium and big scaled business women to access affordable financial services. The features are, flexible security requirements, access to business skills training, flexible loan amounts, fast loans processing and monthly loan repayment from 50,000 KS. This loan requires 7 to 10 members who are already in a business to start.
Mwamba loans
This is a loan to individual entrepreneurs with large scale businesses to access affordable financial services. This loan features access to loans as an individual, no guarantees, flexible loan amounts, flexible monthly repayments, flexible security and fast loan processing. It requires one to own a business and have the bank statements from the last six months and tow flexible collateral.
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