- Loan Purpose

This is a short term loan that is specifically targeted to assist Tower Sacco members to finance working capital

- Target Clients

Individuals in Businesses

- 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.
  • Must have ability to repay

- Product Features

  • Method of calculation: Reducing balance.
  • Disbursement can be done upon approval and security perfection.
  • Loan Tenor: Up to 4 years.
  • Mode of repayment:

                    1.Daily collection/normal account operations

                    2.Standing Orders.

  • Mode of Loan disbursement: Direct debit to the operative account.
  • Loan Amount: Determined by the ability to repay
  • Deposit: Minimum Share Deposit of 1/5 of loan and Share Capital of Kes 2,000.
  • Property Insurance-Fire and Perils Insurance to be taken.

- Security/Collateral

  • Own Deposits
  • Guarantors Eligibility check.
  • Motor vehicle
  • Legal Charge over the property being purchased or the property where the construction is undertaken.

Do you want a Loan?