Individual Micro Enterprise Loan (IMELP)

Features

• 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)