Q. How can I join SMEP Microfinance Bank?
A. By forming a self help group or joining an existing group.
Q. What are the requirements for the group?
A. The group must not be less than fifteen members, MUST be registered with the Ministry of social services and have a constitution.
Q. How long does it take for a client to be funded?
A. Once a client joins the SMEP Microfinance Bank family he/ she will undergo training for a period of 8 weeks. The client then can borrow.
Q. Who are the target customers for SMEP Microfinance Bank?
A. Kenyan aged 18 years and above, who may be organized in registered Self Help Groups or as individuals or companies.
Q. What is SMEP Microfinance Bank core business?
A. Provide credit to all Kenyans for enterprise development
Q. What is the maximum amount of loan one can get and for how long?
A. You can obtain any amount with a flexible repayment period.
Q. What are the requirements/ conditions for getting SMEP Microfinance Bank loan?
A. For groups
You must be a member of a registered self help group and trained by SMEP Microfinance Bank
You must demonstrate an ability to repay the loan
Demonstrate the ability to repay the loan
Q. Is there a grace period?
A. Yes of one month for groups meeting monthly and two weeks for the groups meeting weekly
Q. What securities are acceptable to SMEP Microfinance Bank loans?
A. We accept both chattels and other conventional securities.
Q. Are there any hidden charges on the loan?
A. No. there are no hidden charges except from the insurance incase a member dies (loan disbursement fee)
Q. What type of loans do you give?
A. We offer financial solutions to all your needs (see our products )
Do you give individual loans?
Q. What are the requirements?
A. Conventional securities and the individual must demonstrate the ability to repay.