Q: Are you a SME who needs quick funds of up to Ksh. 5,000,000?

A: Then, our REAL PEOPLE BUSINESS LOAN is for you!

Real People Business Loan is specially designed for SMEs to enable you increase your income and assets, raise your skills and productivity and form organizations that facilitate your more effective participation in society.

Product Features

Product Features New MEF Product
Loan Amount
  • New Clients: Kes 1,000,000 – 5,000,000
  • Repeat Clients: Kes 300,000 – 5,000,000
Loan Term
  • 6,9,12,18 and 24 months.

Business Rules

  • New clients to qualify for a maximum of 18 months then graduate to the subsequent cycle.
  • Loan top-up only allowed half the term of the loan.
  • The graduation will be based on affordability.
  • All GPF clients will have a minimum period of 3months from subsequent drawdown or facility reviews to be rolled over to MEF. In which a fresh assessment must be done to determine affordability.
  • At the point of top up the security will be reviewed to determine if more security is required and determine if we will need to charge the security fees or not. If the same security is used and covers the expected loan to value, then no additional security fees will be applied.
Interest Rate
  • 25% Simple Interest Rate for loans below Kes 1,000,0000 p.a.
  • 20% Simple Interest rate for loans above Kes 1,000,000 p.a.
  • 2.5% of loan amount as initiation fees (capped to a minimum of Kes 5,000 and a max of Kes 20,000)
  • 1.75% of loan amount as security fees,
  • Credit life premium will be pegged to the term of the loan with a minimum of 1.1% for 12 months.
  • It will be deducted upfront from the approved loan amount.
  • Increase in term above 12months will result to increase in the annual rate as follows:
  • 6 months – 1.1% premium of the OL
  • 9 months – 1.1% premium of the OLB
  • 12 months – 1.1% premium of the OLB
  • 18 months – 1.65% premium of the OLB
  • 24 months – 2.2% premium of the OLB
  • In the event of a top up the insurer will discount the new premium payable based on the balance of premium applicable to the remaining term.
  • 5% of arrears amount as penalty fees monthly and
  • Kes 300 monthly service charge fees
Collateral Repeat Clients:

  • Loans below 1M – granted subject to clients reusing the previous security. Increase in loan amount requires logbook/title.
  • Clients using chattels based on above rule will be limited to a maximum of 12months term
  • Loans above Kes 1,000,000 – Kes 5,000,000 Logbook/Title

New Clients:

  • Loans Kes 1,000,000 – Kes 5,000,000 Logbook/Title
Business Rules
  • For all new customers, at most 10 years
  • For repeat customers allow them to use same security up to a maximum of 15years
  • For specialized and heavy machinery (E.g. excavators) allow up to 15 years for new; up to 20 years for repeat
  • Comprehensive insurance must be provided for motor vehicle
  • Client will be given up to 6months to be termed as repeat where they can reuse

Why should you consider us and not any other institution?

  1. We are true Real People-We keep our word.
  2. No deposits or banking tracking for months before accessing a loan.
  3. Flexible loan terms from 3 to 18 months.
  4. Fast processing supported with the latest modern technology system to enable you access a loan within 48-72 hours.
  5. Personalized service at your door step.
  6. Frequent and sound financial advice on business management.

How does it work?

Step One:

Meet our friendly relationship officer who will assess your business and determine the amount of loan you qualify for.

Step Two:

Once the assessment is done, the relationship officer will collect information from you and begin the application process.

Information required includes:

  1. Existing business of more than two years.
  2. A collateral.
  3. A bank statement and sales record to track business cash flows.

Step Three:

Loan is processed and you are notified once the amount requested has been approved.

Step Four:

Amount requested is transferred to your account.

Responsible finance. Sustainable futures.


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