Majority of kenyan people run microbusinesses in order to meet their families' needs.Financing the expansion of such enterprises through asking loans from banks and other lenders in kenya is key though not easy due to unpredictable credibility nature of majority of the Kenyan population.
The National Bank of Kenya,however thought past the unstable financial credibility trends of many men and women in small businesses and came up with a loan package dubbed 'Jenga Biashara Loan'
solely targeting micro-entreprenuers.See also microbusiness loan from Equity Bank.
I know you want to get more about this loan especially the kind of micro-entreprenuers covered.For that reason let me take you through the whole loan package.
Features and Benefits.
.Entreprenuers must be in a group holding a joint account at the National Bank.This savings pool will then be the security against loans borrowed.
.Jenga Biashara Loan is a business loan which is open to finance any business category acceptable in the community.
.Its not for starters.It's specifically to finance expansion of already existing microbusinesses.
.No tangible security is required for loan approvals.The savings pool is sufficient.
.Each group member can borrow an individual loan to finance the growing of their own business.
.Loan amounts ranges from ksh5000 to ksh1million depending on the size of the business.
.The loan repayment period varies depending on the amount borrowed. The repaymnt period however, should not be less than 6months and should not exceed 12months.
TIP;if you are looking for group members to create a savings pool,then friends in different lines of business MUST be included.This is to avoid influx of loan applications from members of your group during peak seasons for that single business line.
Interested?Send me back to National Bank Of Kenya to enquire for more just for you by asking your personal query through commenting below.
Wish you success as you apply for Jenga Biashara loan.
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