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Get access to short-term financing to manage cash flow gaps with our flexible overdraft facility. This solution allows schools to withdraw funds beyond their account balance, ensuring smooth operations during financial shortfalls. With competitive interest rates and a convenient repayment structure, schools can cover urgent expenses such as salaries, utilities, and supplies without disruption.

Benefits

Maximum Loan Amount

Maximum amount of KES. 2M is unsecured. Amounts above 2M must be fully secured.

Flexible Repyament Period

3 months tenor. Collateral on a simple deposit, duly valued, to be taken if tenor is increased to 6 months.

What We Need From You*

  • Completed loan application form.
  • Copy of National ID/Passport for account signatories (Certified against original).
  • Copy of KRA PIN for account signatories.
  • Account signatories' colored passport-size photo.
  • Approval to borrow from the county director.
  • Projected cash flows and underlying assumptions.
  • List of debtors and creditors duly aged.
  • Deed of assignment to channel all the school fees into the KCB account.
  • Banking relationship for at least 6 months.
  • Bank account statements of 12 months for multi-banked schools.
  • Audited accounts for the last 3 years for amounts above 5M.
  • Income/expense statements for 12 months in absence of audited books of accounts.
  • Board resolution to borrow.
  • Certificate of registration with the MOE (Provide progress details if the certificate is not yet available).
  • Copy of proposed collateral (for secured facilities).
  • Breakdown of cost supported by proforma invoices or Bill of Quantities (for infrastructure loan).
  • Submission of approved building plans by an architect (for infrastructure loan).
  • Submission of approved structural drawings by a structural engineer (for infrastructure loan).
  • Submission of priced Bill of Quantities duly signed by the QS (for infrastructure loan).
  • NEEMA approval where applicable (for infrastructure loan).
  • Contractor licenses (NCA, County) and CV of past performance (for infrastructure loan).
  • Performance bond by the contractor (for Infrastructure loan).
  • Breakdown of cost supported by proforma invoices or Bill of Quantities (for Infrastructure loan).

Rates & Fees*

  • Interest rate - Risk based lending.
  • Zero negotiation fees/Rate.
  • Termly installments should not exceed 40% of actual termly school fees payment.
  • Minimum amount of KES. 100,000.00.
  • Maximum amount of KES. 2M is unsecured. Amounts above 2M must be fully secured.
  • 3 months tenor. Collateral on a simple deposit, duly valued, to be taken if tenor is increased to 6 months.
  • Loan repayment - one-off.
  • Collateral - Deed of assignment to channel all the school fees into the KCB account.
  • Board resolution to borrow.

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