Loans for business are the loans used for starting up various different businesses in Kenya. Loans for business can be acquired from different banks here in Kenya and also from different Micro finance institutions that offer loans for business start up.
Examples of loans for businesses in Kenya
In Kenya we have various different loans for business in Kenya and I have discussed them as follows:
KCB small scale enterprise loan.
The Small scale enterprise loan is targeted at small businesses that are unable to borrow, primarily due to lack of tangible security. If your business assets do not exceed 5million and have maintained good business account for at least 6 months, then you are eligible for this loan facility. You can use the loan for expansion or machinery or use it to boost your working capital.
Equity Bank business loans
This loan is available to SME’s operating in Transport, Trade and Commerce, Construction, Manufacturing, Education, Health & other services sector.
- Both customers and non customer can qualify for the Business loans.
- Flexible repayments period up to 60 months.
- Minimum of KS 1,000,000 and a Maximum of KS 50,000,000.
- No guarantors required unless borrower is a limited Company.