Financing Plan

Application requirements

1. For Limited Liability Companies

• Memorandum and Article of Association.
• Certificate of Incorporation
• Company KRA PIN.
• Resolution to borrow and to open an account.
• Directors I.D.s & K.R.A PIN.

2. For Sole Proprietorship Businesses

• 6 months Bank statements duly verified.
• Loan statements (in case of loans existing in other banks).
• Certificate of registration
• Business records
• I.D. & K.R.A pin.

3. For Salaried Individuals

• 6 months Bank statements duly verified.
• Loan statements (in case of loans existing in other banks).
• 3 Months latest pay slips.
• I.D. & K.R.A pin.

Terms and Conditions

• Rafiki Microfinance Bank shall be advancing loan facilities based on credit principles to individuals recommended by Beth Mobility for motorcycle financing of up to 80% of the motorcycle value.
• The client should have a good credit history and not be negatively listed with the Credit Reference Bureaus (CRB).
• The interest applicable to the facilities shall be on a flat rate at 15% per annum.
• The maximum facility period shall not exceed 24 months.
• Charges to facility shall be a processing fee of 3.6% of the loan amount.
• The facilities will be comprehensively insured and Rafiki Microfinance Bank’s interest noted through Rafiki Microfinance Insurance Agencies.
• The motorcycles under purchase must be fitted with a tracking device with a company in Rafiki Microfinance Bank’s panel.