This is a normal Business Loan issued to business people for their various business needs: working capital, purchase of stock among others.
Features
- Have maintained an active account with Moto Hope Sacco.
- Minimum 6 months consistent saving.
- Minimum savings of Ksh. 5,000.
- Interest rate of1% per month reducing balance.
- Maximum Loan – 3 times savings
- Loan amount ranges between Ksh. 10,000 to Ksh. 500,000.
- Repayment period: A maximum of 24 months.
Requirements
- You need to be a Sacco member.
- A duly completed loans application form.
- Identity card/passport (both original & copy).
- KRA pin.
- Bank statement, MPESA statement, and/or valid business/farm records.
- 2 recent colored passport size photos.
- 100 for CRB report.
- Security: Business/household assets
Note: There are charges for processing fee and insurance on each loan product
