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Funds granted against invoices pending payments by suppliers. The Bank discounts the invoices and grant funds up to 30% as a loan.

Benefits

Convenience

The Bank offers Immediate cash of up to 30% against the invoices pending payments.

Flexible Collateral

No collateral required as funds are granted against the invoice.

Speedy Processing

Funds processed within the shortest time by respective KCB Branches.

What We Need From You*

  • Evidence of previous cheques paid successfully.
  • Complete SME loan business application Form.
  • Colored passport photo.

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).

Interested in Short-Term Accommodations (STA) or have a question?

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Drawing Against Uncleared Effect (DAUE)

Funds granted to customer against deposited cheque not yet processed and cleared by the Bank.

Learn more about Drawing Against Uncleared Effect (DAUE)