Short-term loan facility for Safaricom Dealers and Agents intended to boost their growing business needs

One year business operation with Safaricom

1. Copy of certificate of incorporation- share copy for credit check in the interim.
2. Copy of Memorandum and Articles of association- confirm borrowing powers.
3. KRA PIN certificate (for company and Directors)
4. Copies of national ID/ Passport- share copies for credit checks in the interim.
5. Passport Photos
6. Latest annual returns/ CR12
7. Proof of residence for the company and directors/signatories

The loan is tailor made for MSME customer who are in trade business and in need of working capital cashflow.

Client must have operated a business account with UBA Bank for at least one month

Copies of ID and kra pin of the directors, company KYC, Bank statements for the last 12 months(certified), copies of contracts or LPOs and if client does not have prior banking experience, they will have to bank with us for at least 3 months in order for us to review their application.

A loan product designed for contractors and vendors of reputable organizations
to enable them to execute work and local purchase orders from their respective employers

• Qualified and more than one year experience
•  Has capacity to deliver the contract
• Past track record of the supplier or vendor.
• The LPO should not be more than 30 days from the date of issue.

KYC DOCUMENTS

SDFDS

SDFSDF

• Bank statements for a period of 6 months

SDFSD

• A detailed Business Plan or Feasibility Study (in case of start-ups)
• A loan application letter on the company's letterhead
• A sealed board resolution to borrow (where applicable)
• Certificate of Incorporation, Memorandum and Articles of Association
• Copies of Collateral offered for the facility under request.

• Entrepreneur Profile: The entrepreneur should have significant own investment in the business, have the ability to manage a business – from operations, sales, financial management, administration, and leadership. They must be willing to work with GroFin as a value adding financier and share management information regularly. They must have growth ambition and demonstrate integrity as well as professionalism in their dealings.
• Collateral requirements: Though GroFin has no minimum requirement, they expect entrepreneurs to (partly) secure the loan if collateral is available. Quality and value of collateral does play an important part in the overall risk assessment. Personal guarantees of the entrepreneur(s) is required.
• Social Impact: The business must be able to have a measurable impact in terms of the number of jobs supported and sustained, female ownership, female employment and semi-/unskilled labour. SMEs that provide indirect job opportunities (e.g. training, skills development) and/or environmental services (water, waste, energy, ecotourism) are also attractive to GroFin.
• Business support: GroFin delivers business support to clients prior to the investment and during the tenor of the loan – focusing on improving business viability, sustainability and growth through identifying material business risks/opportunities across a range of generic areas as identified during the screening/due diligence stage. For this reason, entrepreneurs need to be receptive to receiving advice and implementing recommendations, normally around improving formalisation of their business.

• Attributable benefit to smallholder farmers