Mwalimu Business Loans is a Micro Finance program of Mwalimu National. The program has disbursed over KES 800million thereby benefiting more than 4000 members since inception. It’s designed for Mwalimu National members who are engaged in running of income generating activities.
The program encompasses the Provision of loans to members for Business Development, encourages savings and Long Term Investments.
Business Loans are disbursed to individual members within a group for expansion of existing income generating ventures. Such businesses must have been in operation for at least 6 months.
Group loans are done based on tiers.
- Tier one KES 30,000- KES 150,000 (1.33% pm) payable in maximum 12months.
- Tier two KES 151,000-KES 250,000 (1.33%pm) payable in maximum 24months.
- Tier three KES 251,000 –KES 500,000 (1.33%pm) payable in maximum 36months.
One has to start from tier one and graduate through the tiers within the program based on business ability. If successful, at tier three one can move to borrow as an individual client without the need of group.
Clients with well established businesses, can access business loans directly without group requirement. The minimum loan for individual client is KES 501,000 and a maximum of KES 5,000,000.
We offer business loans at interest rates of 1.25% per month. Our repayment period is between 3-36 months depending on amount borrowed.