Boresha Biashara Loan

Boresha Biashara Loan

This is a facility targeted at the individuals with a performing business who do not fit the group model due to the demand of the business in the socio-economically marginalized rural Kenya. Boresha Biashara Loan is used to finance clients to assist them boost their business with working stock or to increase capital.

One can qualify for amounts as low as ksh 100,000 with a maximum repayment period of 36 months.

The repayment period ranges  from 6 Months to 36 Months. The loan size ranges between Kshs. 100,000 to Kshs. 2,000,000.

 Features

  • 19% Interest Rate
  • Payment -monthly basis
  • Grace period of 1 month

We happy to announce to our boresha clients that they're now able to access loans of more than 2,000,000 on  Reducing balance interest rate of 17.5%

Requirements

  • Compulsory minimum savings 1% of loan amount borrowed
  • Loan application fee 1.5% of loan amount excluding costs for charging assets
  • Emergency fund– 1.5%
  • Registration fee Ksh.1,500 nonrefundable & passbook fee Ksh.200
  • Collaterals must be chargeable e.g. Logbook and Title deed.
  • The business must have an annual turnover of not less than Kshs.300,000. Use mpesa, bank statements & business records to confirm
  • Have formal records

Collateral

  • Minimum value of 150% of the loan amount (valuation template to be attached).
  • Plots with rental houses and proof of rental income.
  • Chattel Mortgage on Business assets especially machinery.
  • Motor vehicle log books with transfer letters duly signed.

For motor vehicle purchased with loan, the security should be registered in the name of Yehu until is fully serviced. But the client can continue borrowing additional funds automatically even after completion of the asset loan

  • Title deeds or authentic letters of allotment.
  • Share Certificates (for listed company/CDS statement (75% value of the shares).
  • Yehu Members Association Share certificates are acceptable.
  • 2 guarantors – One of the guarantors must be Yehu existing client who made the referral and the member must have been in Yehu for at least Two Years.
  • Asset Value Rate apply to be determined by YEHU