Small loan
This product aims at empowering women who have small businesses of low income. The individual business-women interested in this product must be willing to form a group of between 15 to 30 members, however they can start with five members but increase the number to be able to get the small loan.
Key Features
Member Admission fees | Applicable |
Processing Fees | Applicable |
Verification Fees | Applicable |
Frequency of meeting | Weekly |
Type of loan product | Group based small loan with individual liability (female only) |
Loan size (1st cycle) | KSH 10,000 - 30,000 |
Loan duration | 6 months and 10 months |
1st loan disbursement | After two weeks |
Loan increment each cycle | Maximum KSH 25,000 |
Service charge/Interest Rate | Applicable |
Mode of repayment | Weekly |
1st instalment | After one week |
Number of instalment | 25 for 6 months loan and 40 for 10 months loan |
Advance instalment | Up to last 8 instalments |