MARAMOJA LOAN
Maramoja loan provides capital that is easily accessible to small scale and micro enterprises. Maramoja loan product aims at empowering marginalised groups and helps them to become self-reliant.
Features
- The loan amount ranges from Kshs 1000 up to Kshs 5000
- Interest upfront of 5 % of the loan amount
- Repayment period of up to six months
- 20 % own savings of the loan amount a prior to the loan approval
- Minimum weekly contribution Kshs 50
- Flexible securities such as household items
- Non-compliance with the repayment conditions, penalty of 20 % of the remaining loan amount
Requirements
- Registration to TFEDI Kshs 200
- Loan application form fee Kshs 100, stamped by the lawyer
MAENDELEO LOAN
Maendeleo loan product is targeted to support the start-up phase of new businesses or to boost already existing entrepreneurial activity. Compared to Maramoja loan, the Maendeleo loans provided are of higher amount and require more economic assets by the loan seeker. Receivers of the Maendeleo loan may also be persons that have started their business with the Maramoja loan product and will now escalate their economic activity.
Features
- The loan amount ranges from Kshs 5000 up to Kshs 40,000
- Interest upfront of 10 % of the loan amount
- Repayment period of up to 12 months
- 30 % own savings of the loan amount a prior to the loan approval
- Minimum weekly contribution Kshs 100
- Flexible securities such as household items
- Non-compliance with the repayment conditions, penalty of 20 % of the remaining loan amount
Requirements
- Registration to TFEDI Kshs 500
- Loan application form fee Kshs 100, stamped by the lawyer
- NGO Council Contribution Kshs 100 per year
- Monthly administration fee Kshs 100
- Monthly insurance fee Kshs 50
- 10 % own contribution of the loan amount a prior to the loan approval