Individual Micro Enterprise Loan (IMELP)
This loan product is suitable for Kenyans seeking to upscale their businesses that are solely owned and registered with BRS
- Amount : Range from Kes 10,000 to Kes 200,000
- Interest rate: 7% per annum on reducing balance and 1.5% default rate
- Tenor: Repayment in six (6) months from disbursement date. Borrowers can opt to repay in installments or lump sum.
- 5% of the approved amount respectively, channeled towards borrower’s savings scheme
To qualify for this product, an individual must meet the following criteria;
- Be a Kenyan citizen of 18 years of age and above with a H valid Kenyan National Identification Card (ID
- Have an active sim card for at least 90 days with any MN
- Operate a formally registered business under Business Registration Service
- Possess a KRA Pin for the business.
- Must not have defaulted on Personal Loan Product & Group/Chama Product.
For Credit Scoring, Consent sharing of business Financial Information (MNOs & Financial Institutions)