Business Haraka Loan
This loan product enables our clients to access quick working capital so as to seize business opportunities. Clients may include importers and exporters of various merchandise such as clothes, motor vehicle parts, household goods, office equipment among others. We provide quick capital to ensure your business grows fast.
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Loan Features
- Access to loans up to 2Million subject to verifiable ability to repay.
- Competitive Interest rates
- Loan processing within 48 hours where all requirements are in place.
- Monthly loan repayment.
- Repayment period of up to 6 months
- Flexible Security
Loan Requirements
- Business registration documents
- The client must have been in business for at least two years
- Certified bank/Mpesa statements for 1 year
- National ID and PIN of the borrower
- Utility Bill
- Copy of security being pledged as collateral
What is a monthly flat rate?
A monthly flat rate is one of the methods used to calculate the monthly repayment amount for a loan. Most banks and financial institutions adopt this method to provide a fixed monthly repayment.
What is an annualised percentage rate (APR)?
TThe annualised percentage rate is an index of borrowing cost and is calculated on the basis of 365 days or 366 days a year, including interest and all related fees/charges, in accordance with the relevant guidelines of the Code of Banking Practice. APR is used as a way for customers to compare interest rates
How long should I borrow for?
A good general rule is not to borrow for longer than the life of the thing you are paying for. For example, if you have an annual expense such as a tax bill then a loan of 12 months or less would be the best choice - otherwise you will still be paying off your first loan when the next year's tax demand arrives. With careful budgeting, you can balance the amount you borrow with the period of the loan and the amount you can afford to repay each month.
