Are you a Kenyan youth who want to start a small business as a form of self employment but you lack capital to start? Are you looking for financies to boost your small business to higher level? If yes then this post is for you. In this post am going to highlight on the best business loans available to Kenyans where business loans are given out in the shortest time possible, a reasonable amount at a reasonable interest rates with longer repayment periods.
1. HF Group Unsecured Business Loans
The loan amount ranges from kes 10,000 to 1 million with a repayment period of up to 12 months.
Requirements For HF Group Unsecured Business Loan
National ID
KRA PIN
Recent coloured Passport size photo
Business License
Registration Certificate
Business records
6 months Bank statements
To apply for the loans or for more information contact HF Group through: +254 709 438 000/ 709 438 888
Toll free: 0800 721400
2. Musoni Kenya Business Loans
Musoni Kenya Business loans are open to individuals with working businesses not less than 6 months old.Business loans at Musoni Kenya are provided from kes 5,000 up to 3 million with a repayment period of up to 36 months
The loan charges an upfront fee of 4%.
Contact Musoni Kenya for loans through +254 709 761 101
3. Stawi Loans
These are loans inciated by The Central Bank of Kenya in partnership with KCB, DTB, NIC,CBA and Co-op Bank. The loans are made available to Small and micro-entreprenuers to help them grow their businesses.Stawi loans are given out from kes 30,000 to kes 250,000
Interested individuals must download Stawi loan app to apply for the loans.
4. Tala Loans
These are digital lending platforms that give loans to Kenyans via MPESA. Interested individuals must first download the loan app and apply for the loans , however business persons must be very careful with these loans and must make sure that their businesses deal with fast moving products to be able to pay back their loans on time as these loans have short repayment plans.Tala app summary Table
| Tala loan Particulars |
|---|
| Loan range Maximum 30,000. |
| Interest Rate Daily rate of 0.3% & APR of between 109.5% to 219% |
| Repayment period -60 days maximum |
| Email address: hellokenya@talamobile.com |
| Paybill number: 851900 |
| Late Repayment Interest Rate :8% |
5. Kenya Government Enterprises Funds
Business persons can opt to obtain business loans from government enterprises such as :Youth Enterprise Fund
Uwezo Fund
Women Enterprise Fund
6. Sacco Business loans
Most saccos provide business loans to their members.Leading Sacco's such as Police Sacco, Stima Sacco, Hazina , Imarika, Mwalimu etc provide their members with business loans to boost their businesses.
7. Business Loans From Non deposit taking Microfinance institutions ( MFI)
Non -deposit taking microfinance institutions provide business loans to individuals who want to start or boost their businesses.Best examples are Platinum credit ltd, Mwananchi Credit ltd, Real people, Jijenge Credit, Ngao credit etc.
Good luck in your search for Business loans!!
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