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Loan facility granted against invoices which are awaiting payments after completion of contract or supply.

Benefits

Flexible Repayment Period

Loan repayment period of up to 6 months.

Speedy Processing Period

A turn around of up to 4 days pending security perfection.

Flexible Collateral Requirement

Various forms of collateral allowed which includes legal charge, a joint registration of logbook, cash cover, pledge or guarantee.

What We Need From You*

  • Evidence of previous contracts performed and channeled through account.
  • Evidence of contract being undertaken i.e. the LPO.
  • Undertaking by LPO issuer to channel the payments through KCB.
  • Complete SME loan business application Form.
  • Colored passport photo.
  • Three years financial books of account for amount above Kes 5M.

Identification Documents*

  • Individuals: ID original, KRA Pin.
  • Enterprises: Certificate of registration, ID original, KRA Pin for the owner Limited Company: certificate of incorporation, company pin, Board resolution authorizing borrowing, director’s ID &PIN, Memorandum & Articles of Association {CR1,2,8 &12} and company Search.

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 Invoice Discounting or have a question?

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