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Financing to facilitate contractors and suppliers execute their obligations and contracts as per LPO value. The Bank finances both private sector and government contractors.

Benefits

Flexible Repayment Period

Loan repayment period of up to 6 months.

Speedy Processing Period

A turnaround time 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 LPO Financing or have a question?

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