Full List of Equity Bank Business Loans in Kenya

People often find themselves in a fix when it comes to business progression. Equity bank business loans are now available to sort you out.

Among the many banks or lending institutions in Kenya, Equity Bank Kenya stands out above its competitors.

This status can be attributed to the efficiency and availability of Equity Bank business loans.

As such, the demand for Equity bank Kenya loans has soared over the years.

List of Equity Bank Business Loans in Kenya

Take a look at the Equity Bank business loans and interest rates.

1. SME Business Loans

Available to SMEs operating in Transport, Trade, and Commerce, Construction, Manufacturing, Education, Health & other services sectors.

Benefits

  1. Both customers and non-customer can qualify for the Business Loans
  2. Flexible repayments period up to 60 months
  3.  Minimum of Ksh1,000,001and a Maximum of Ksh50,000,000.
  4.  No guarantors required unless the borrower is a limited Company.

2. Micro Business Loans

This is a new product targeting the youth, which forms the bulk of the population. This product seeks to empower them with the tools they need to build and grow a business.

Features

  1. Identify and prepare new business markets
  2. Providing the youth with a savings vehicle through which they can access a variety of financial services
  3. Providing tailor-made loans to meet the specific needs of the youth
  4. Develop a system of business appraisals to determine the youth credit needs
  5. Provide the business training and advisory services that will respond to the growing population

Benefits

Offers a saving vehicle tailored loans for:

  • Working capital
  • Purchase of fixed assets (for business)
  • Business premises improvement
  • Agriculture
  • Dairy, horticulture

This type of loan is available to all youth (18-35 years) who are Equity Bank account holders.

3. Equity Bank Business Loans – Development Loan

Available to SMEs to finance the expansion of business and acquisition of business assets.

Requirements

  1. Be an active account holder with Equity Bank
  2. Submit loan purpose for financing business working capital and operational needs
  3. Submit loan applications within a reasonable time
  4. Be able to demonstrate the existence of other sources of income that could be used for loan payment

4. Fanikisha Loan

The Fanikisha Loan targets women’s groups of 15-30 members and provides access to business improvement training at terrific discounts, among other benefits.

Features

  1. Lending to groups (15-30 members)
  2. Access to loans from 1,000-300,000
  3. Repayment period of 6-12 months

Benefits

  1. Access to business improvement training at excellent discounts
  2. Access to business advisory services
  3. Flexible repayment period
  4. Ability to borrow ten times your savings
  5. Opportunity to graduate to the next level (Fanikisha Fedha)
Requirements
  1. Be an active account holder with Equity Bank
  2. Submit loan purpose for financing business working capital and operational needs
  3. Submit loan applications within a reasonable time
  4. Be able to demonstrate the existence of other sources of income that could be used for loan payment.

5. Fanikisha Imara Business Loans

Fanikisha Imara lends to individuals and gives access to business improvement training at excellent discounts.

Features

  1. Lending to individuals
  2. Access to loans from Ksh 30,000 to Ksh 500,000
  3. Repayment periods of up to 18 months
  4. Interest rates at 1.25% per month

Benefits

  1. Access to business improvement training at excellent discounts
  2. Access to business advisory services
  3. Flexible collateral requirement
  4. Fast loan processing
  5. Opportunity to graduate to the next level with relaxed security requirements

Requirements

  1. Be an active account holder with Equity Bank
  2. Submit loan purpose for financing business working capital and operational needs
  3. Submit loan applications within a reasonable time
  4. Be able to demonstrate the existence of other sources of income that could be used for loan payment

6. Fanikisha Platini

Fanikisha Platini loan lends to individuals and offers them the opportunity to attend motivational talks and trade fairs.

Features

  1. Lending to individuals.
  2. Access to loans over Ksh 10,000,000
  3. Repayment periods of up to 60 months
  4. Interest rates at 1.25% per month (negotiable)

Benefits

  1. Access to business improvement training
  2. Access to business advisory services
  3. Flexible collateral requirements
  4. Fast loan processing
  5. Opportunity to attend motivational talks and trade fairs
Requirements
  1. Be an active account holder with Equity Bank
  2. Submit loan purpose for financing business working capital and operational needs
  3. Submit loan applications within a reasonable time
  4. Be able to demonstrate the existence of other sources of income that could be used for loan payment

7. Fanikisha Almasi

Fanikisha Almasi loan lends to individuals and offers flexible collateral options to meet your needs.

Also, read 10 Institutions That Offer Business Funding in Kenya

Features

  1. Lending to individuals
  2. Access to loans from KSh 3,000,000 to KSh 10,000,000
  3. Repayment periods of up to 36 months
  4. Interest rates at 1.25% per month, reducing balance

Benefits

  1. Access to business improvement training
  2. Access to business advisory services
  3. Flexible collateral requirements
  4. Fast loan processing
  5. Opportunity to attend motivational talks and trade fairs
  6. Opportunity to graduate to the next level
Requirements
  1. Be an active account holder with Equity Bank
  2. Submit loan purpose for financing business working capital and operational needs
  3. Submit loan applications within a reasonable time
  4. Be able to demonstrate the existence of other sources of income that could be used for loan payment

8. Bank Business Loans – Fanikisha Dhahabu

Fanikisha Dhahabu loan lends to individuals and provides flexible repayment periods of up to 24 months.

Features

  1. Lending to individuals
  2. Access to loans from Ksh 500,000 to Ksh 3,000,000
  3. Repayment periods of up to 24 months
  4. Interest rates at 1.25% per month reducing

Benefits

  1. Access to business improvement training
  2. Access to business advisory services
  3. Flexible collateral requirements
  4. Fast loan processing
  5. Opportunity to attend motivational talks and trade fairs
  6. Opportunity to graduate to the next level

Requirements

  1. Be an active account holder with Equity Bank
  2. Submit loan purpose for financing business working capital and operational needs
  3. Submit loan applications within a reasonable time
  4. Be able to demonstrate the existence of other sources of income that could be used for loan payment

9. Fanikisha Fedha

Fanikisha Fedha loan lends to women’s groups of 7 to 10 members, with a repayment period of up to 18 months.

Features

  1. Lending to women groups (7 to 10 members)
  2. Access to loans from Ksh 300,000 to Ksh 1,000,000
  3. Repayment periods of up to 18 months
  4. Interest rates at 1.25% per month
  5. Monthly meetings

Benefits

  1. Access to business improvement training at excellent discounts
  2. Access to business advisory services
  3. Fast loan processing
  4. Opportunity to graduate to the next level
  5. Opportunity to network and share business ideas
Requirements
  1. Be an active account holder with Equity Bank
  2. Submit loan purpose for financing business working capital and operational needs
  3. Submit loan applications within a reasonable time
  4. Be able to demonstrate the existence of other sources of income that could be used for loan payment

Final thoughts on List of Equity Bank Business Loans in Kenya

Owners of small businesses are, however, headed for tough times after the bank announced it is cutting down unsecured and microloans to comply with a new set of global accounting rules on loan loss covers.

Equity Group Chief Executive James Mwangi said the lender was moving away from unsecured and small business loans — which are deemed risky — ahead of the coming into force of the new guidelines, technically referred to as International Financial Reporting Standard (IFRS)

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