Biashara Loan

Designed for groups or Individual members who are engaged in running some income generating activities. The loan is intended to expand an existing income generating activity which should be in place six months prior;

Features

Available to all members.
Member must contribute shares for 6 months.
Business income must be channeled to FOSA for at least 6 months.
Loan recovery will be through FOSA standing order, check-off, direct debit, salary etc.
Maximum amount applicable is Kes. 1,000,000 repayable in 24 months.
Qualifier shall be 3 times of members deposits.
Self-guarantee will be up to 90% of the member’s free deposits.
Collateral shall also be used as loan security; member will bear perfection costs