This product targets any collection of individuals in form of a Chama, whose objective is the pooling together of capital or other resources with the aim of using the collated resources for investment purposes.
REQUIREMENTS:
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Copy of Certificate of Incorporation
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Copy of CR 12 (validity period 90 days)
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Copy of company KRA PIN
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Copies of Directors’ ID and PIN
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Copies of Memorandum and Articles of Association for limited company
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Copy of a partnership deed in case of a Partnership
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Directors’/proprietors’ resolution to borrow in case of limited company
.
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Duly completed and signed Application Form under company seal
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Duly executed Directors Personal guarantees
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Resolution to borrow signed by share holders
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Cash flow projections if applicable
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Bank statements for at least the last 6 months, if banking elsewhere
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Copy of the letter(s) of offer from other institutions, if servicing other facilities
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Copy of the valuation report, if available
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Copy of the identification document(s) for all parties in the borrowing
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Copies of the security document(s) e.g. title deed, logbook and NSE share statement e.t.c.
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Bills of quantities for construction indicating value of works done and value of remaining works
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A list of all the shareholders/members and their contact details
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Identification documents for all the shareholders
FEATURES:
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Minimum loan amount Kes. 300,000
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Maximum loan amount up to Kes. 40 million
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Maximum repayment period of up to 120 months
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Financing 100% of the project cost
ADDITIONAL DOCUMENTATION:
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Sale agreement for Property purchase
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Proforma invoice for asset acquisition
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BQs, Approved Architectural and Structural drawings, County approvals and permits for construction for construction projects.
