Business Loan
Loan Purpose
This is a loan product for entrepreneurs with existing businesses who require a reliable loan facility to boost their businesses. It acts as a working capital, and is one of our flagship products at Sumac.
This loan facility is easily accessible. The following are key features that define this product:
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
