The clients may obtain the following loans depending on their capacity and the ability to service the loans.
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.
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.
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.
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.
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.
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.
Repayment period shall be on bullet (P+I) depending on the contractual period.
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.
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.
Agri-business ecosystem
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 scale in arid and semi-arid areas
Agricultural Loans
The product is meant for all clients who are involved in crop and livestock production or agriculture-based entrepreneurs/agro-traders , dairy and poultry farming 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