BUSINESS LOAN

Loan Purpose

This is a loan product for entrepreneurs with existing businesses that is meant to help them boost their business. It acts as a working capital, and is one of our flagship products at Sumac.

If you are a business man, this is the product you want to have. This loan facility is easily accessible to you, and the following are key features that define this model:

Loan Size: Ksh50,000 – Ksh10 million

Security & Collateral:

  • Title deeds, Log books, Shares or Fixed Deposits
  • Third party security arrangement is applicable

Grace Period – 1 month

Access Requirements

  • 6 months Certified bank statement
  • Licenses and necessary permits
  • Business Registration Certificates where applicable
  • Sketch Map Area of Residence and business premises
  • ID and PIN copies of business owners & Company directors
  • Copy of company PIN and Certificate of Registration for companies
  • Copy of VAT Certificate where applicable
  • Resolution to borrow for partnerships and companies
  • Memorandum and Articles of Association for companies
  • Current tax and company returns
  • Copy of utility bills i.e. water and or electricity
  • Evidence of business i.e. contracts, receipts of business transactions etc
  • 2 passport size photos

Processing Time: 48 hrs