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Credit Facilities

The clients may obtain the following loans depending on their capacity and the ability to service the loans.

Agricultural Loans

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Salo Advance Loan

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Asset Financing

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LPO Financing

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Business Loans

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IPF – Insurance Premium Financing

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School Fees Loans

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Business Loans

This product is designed to finance individuals and entities in small and medium enterprises.

  • Collateral-based loans with a 50% margin in value.
  • All motor vehicles must be comprehensively insured.
  • Ability to pay must be demonstrated by the cash flows of the borrower.
  • The valuation must be done and the motor vehicle fitted with the tracking device.
  • The age of the motor vehicle should not be more than 15 years of age.
  • The repayment period should not exceed Twelve (12) months.

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Inua loan

This facility is offered solely to female clients who have logbooks discounted at 60%.The clients should meet the below conditions of sanctions:

  • The maximum amount advanced should not exceed Kshs100,000.
  • The loan shall be repaid within a period not exceeding (6) months for chattels only and 12 months for both logbooks and chattels.
  • Flexible interest rates.
  • The client must meet basic requirements.
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Jijenge loan

This facility is offered solely to male clients who have logbooks discounted at 50%.The clients should meet the below conditions of sanctions:

  • The maximum amount advanced should not exceed Kshs100,000.
  • Ability to pay must be demonstrated by the cash flows of the borrower.
  • The repayment period should not exceed Twelve (12) months.
  • The client must meet basic requirements.
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Asset Finance Loan

  • This is a facility finances asset acquisition.
  • Pro-forma invoice /sale agreement to be availed from the vendor.
  • Collateral based loans with a 50% margin in value for other car models and 60% for Toyota/Isuzu cars.
  • All motor vehicles must be comprehensively insured.
  • Ability to pay must be demonstrated by the cash flows of the borrower.
  • Valuation must be done and the motor vehicle fitted with the tracking device.
  • The age of the motor vehicle shall be within government requirements.
  • The repayment period should not exceed Twenty-four (24) months.

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Salo Advance

This is a facility advanced to salaried individuals only. The client should meet the below conditions of sanctions:

  • The client must be permanent and pensionable employed.
  • An MOU must be undertaken between the company and ELLEGANT CREDIT.
  • The employee MUST have worked in the organization for more than 6 months.
  • Security registration over collateral provided to be undertaken
  • The repayment period should not exceed Twelve (12) months.
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LPO Financing

This is a facility to finance LPO’s from reputable institutions. The client should meet the below conditions of sanctions:

  • MUST avail the LPO to be financed.
  • MUST avail evidence of at least three payments for the previous LPO’s performed.
  • MUST understand dynamics challenges of supply.
  • The loan shall be fully secured product.
  • The loan shall be fully secured product.
  • Repayment period shall be on bullet (P+I) depending on the contractual period.

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IPF –Insurance Premium Financing

The product is an insurance cover given to those clients who have pledged their motor vehicles to secure their loans. The loan has the following features.

  • The maximum repayment period is 10 months.
  • Pleasure rationally encounter
  • Money is disbursed to insurance company directly.
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Agricultural Loans

The product is meant for all clients who are involved in crop and livestock production or agriculture-based entrepreneurs/agro-traders both in small and large and large scales. It has the following features

  • Collateral based loans with a 50% margin in value.
  • Collateral pledged should be insured.
  • Valuation must be done and the motor vehicle fitted with the tracking device.
  • The repayment period depends on production cycle but should not exceed Twelve (12) months

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School Fees Loan

The product is meant to pay school fees for our clients. The product has the following features.

  • The payment is made directly to the institution.
  • The maximum repayment period shall not exceed 1 year depending on amount.
  • The client must meet basic requirements.
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