Micro Credits Loans

Jamii Biashara Loan

This product is geared towards supporting small scale entrepreneurs to improve their income generating activities.

Basic Requirement

Must be a member of Jamii Sacco with minimum savings of Kshs. 3,400 for a period of 8 weeks.
Registration fees Kshs.300 per member.
Minimum voluntary savings Kshs. 200 per week or 800 per month.
Must be willing to abide by Jamii Sacco lending policies, rules and regulations.
Must provide adequate security for the loan/fully guaranteed by group members.
Must be a member of a registered self help group operating an account with Jamii Sacco.
Must provide current 6 months business record book.
Granted three(3) times a member's Micro Credit savings.
Granted up to a maximum of Kshs. 3,000,000
Interest rate of 14.5% per annum or 1.21% per month on reducing balance.
2.5 % appraisal fee is applicable.
Maximum repayment period is 30 months.
Copies of Business documents such as certificate of registration ,KRA PIN and business assessment report/audited report must be provided.
To be cleared at 8% after 60% payment of the previous loan.
The loan can be cleared after 12 months/ 1 year consistent repayment without default.

Benefits:

Loans between Kshs. 10,000 (min) and Kshs. 2,000,000(max) will be made available to individual members in the Micro-credit Program to assist them start or expand own micro-enterprises.
Loans are granted 3 times of a member micro/Biashara savings.

This product is geared towards supporting group members to meet Emergency and School fees needs

Basic Requirement

Must be a member of a registered self help group operating an account with Jamii Sacco..
Granted two(2) times a member's Micro Credit savings.
Granted up to a maximum of Kshs. 50,000
Interest rate of 15.5% per annum or 1.29% pm on reducing balance.
2.5% appraisal fee.
Maximum repayment period is 12 months.
Copies of Business documents such as certificate of registration ,KRA PIN and business assessment report/audited report must be provided