- Loan Purpose

This is a short term loan that is specifically targeted to assist Tower Sacco members to finance purchase of movable assets e.g. motor vehicles, tractors or specialized machinery.

- Target Clients

Individuals in Businesses or Employment

- Eligibility Criteria

Individuals in Business

  • Must be a member of Tower Sacco.
  • Must have been in business for at least 6 Months, legally known as per Kenya Constitution or employed persons.
  • Must have ability to repay

- Product Features

  • Disbursement can be done upon approval and security perfection.
  • Loan Tenor: Up to 5 years.
  • Mode of repayment:
      • Daily collection/normal account operations
      • Standing Orders.
  • Mode of Loan disbursement: Direct debit to the operative account.
  • Loan Amount: Cost of the asset
  • Deposit: Minimum Share Deposit of 20% of loan
  • Insurance-Comprehensive Insurance to be taken.
  • Property Insurance-Fire and Perils Insurance over the property.

- Security/Collateral

  • Own Deposits
  • Guarantors Eligibility check.
  • Asset being sought

Do you want a Loan?