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For financing acquisition of movable assets including motor vehicles, personal cars for clergy & other church employees plus Church equipment such as keyboards, & PA systems

Benefits

Convenient Repayment Period

A flexible repayment period of up to 72 months.

Flexible Collateral Requirement

Covered by collateral through a joint registration of logbook or chattels mortgage over the asset purchased

Convenience Repayment Modalities

Monthly and termly payments allowed.

Insurance Premium Financing

Availability of insurance Premium financing for the asset.

What We Need From You*

  • Identification documents.
  • Certificate of registration, church Constitution, KRA PIN certificate for the church & ID & KRA PIN for the Signatories.
  • Business proceeds to have been channeled through KCB account for a minimum 6 months or 12 months statement from where you are currently banking.
  • Complete loan application form.
  • Minutes of committee meeting signed by Chairperson & Secretary authorizing borrowing.
  • Invoice from the supplier.
  • Copy of collateral where required.
  • Three years financial books of account for amount above Kes 5M.

Rates & Fees*

  • Pricing: Risk based pricing i.e. Banks variable base rate {currently 15.6%} plus a risk margin.
  • Credit Life: 0.34% per annum of the loan advanced by the bank for an individual borrower (Single life) and an additional 0.18% per annum for each additional joint borrower (Joint life).
  • Third party charges: valuation for used asset, security perfection, Guarantee, insurance etc.: based on agreement between customer and service provider.

Interested in Asset Based Financing or have a question?

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