Business loans
Provision of loans to its members is the main business of KKMF and it is what is demanded most by its members. Since its inception KKMF operations, a market research was done.
- Should be a member with KKMF.
- Should have operated an ordinary savings account for at least 3 months.
- Collateral Securities, 2 guarantors Bank and home guarantors (where applicable), spouse consent (if applicable).
- Should be in areas of our operation.
- Interest rate is 3% per month calculated on reducing balance method.
- Loan period of 1 month to 24 months.
- Interest rate is 3% per month calculated on reducing balance method.
- Minimum amount of 100,000 and maximum of 50,000,000 for individuals.
The product was introduced to support business entrepreneurs, who have income generating activities.
- It is attached to shares at a ratio of 1:10/=.
- No grace period is given on this product.
- It is only given to clients who already have a running business.
- The minimum loan is 100,000= while the maximum is currently at 50.000.000/= for a loan period of 1-24 months at an interest rate of 3 % per month repaid into monthly installments on reducing balance basis.