Security-backed SME Financing

This facility is a security-backed loan that is open to all Small and Medium Enterprises that are duly incorporated and registered with PACRA and have evidence of servicing reputable Companies.

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ORDER FINANCING

SMEs who have orders with established corporate relationships can obtain short-term credit of 30 to 90 days to enable them to fulfill their supply contractual obligations.

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INVOICE DISCOUNTING

SME’s that have already supplied goods and services to corporations and wish to get an advance against the amounts payable by the corporation to meet their short–term needs.

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TERM LOANS

SME’s with track records and regular cash flows from servicing reputable Corporations qualify for a short-term working capital loan ranging from 1 to 12 Months.

REQUIREMENTS

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PACRA documentation

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12 months bank statements

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Directors KYC

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Copies of orders,Invoices and supply contracts

ACCEPTABLE SECURITY

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For loans up to K50,000 - Motor vehicle (comprehensively insured)

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For loans above K50,000 - Landed property

Corporate MOU-based SME Financing

These products are available to SME’s who provide goods/services to established corporate who have signed a Memorandum of understanding with Mikalo to facilitate payment of MIFI loan repayments directly from the off-taker. SMEs may obtain advance payments on their Supply/Service Invoices that they have already delivered on/ fulfilled, invoiced and are pending payment. This facility is only open to SME’s servicing corporates that have signed an MOU.