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Boda Boda Asset Financing

Boda boda asset financing in kenya

This product enables young entrepreneurs’ access funding for purchase of Boda Boda due to lack of full capital.

Who is eligible?

  • Customers should be Operating Boda Boda Business or inactive income-generating ventures.
  • Guarantors should be Operating within the Same Locality or Same work Colleagues.
  • Customers should Contribute to KES 15,000.

Product Features

  • Interest Rate: 3.5% per month. Processing Fee: 4% Application Fee: KES 500 CRB Fees: KES 300
  • Loan Form: KES 300
  • Comprehensive Insurance Fee: KES 7,600 (Strictly by Shimin Insurance Agency)
  • Tracking Fee: KES 10,000 Credit Life Insurance: 1%
  • Loan repayment term: Max 18 Months. Repayment Frequency: Daily or Weekly. Repayment Method: Mpesa Playbill Number.

BODA BODA LOANS REQUIREMENTS

  • Colored Passport Photo.
  • Copy of ID.
  • Copy of KRA Pin.
  • Six Months Certified M-Pesa Statement.
  • Three Guarantors (Provide ID copies, one guarantor to be a relative).
  • Client Contribution KES.15,000.

Benefits

  • Bike Comprehensive Insurance.
  • Bike fitted with a tracking device.
  • Low daily payment of KES 300 per day.