What is Ushirika Loan?
Are you a church, parachurch organization, religious institution, CBOs and NGO? Do you have plans for development projects and the purchase of assets? Look no further! Apply for a Ushirika Loan today and get early funding to complete your projects.
- We are interested in the development projects of religious institutions to bring them to completion before time
- Flexible repayment period up to 84 months
- We can use the collateral of existing members
- Fund various projects in the organisation
- We offer free Financial advice
- Fast application processing
- Open Ushirika account for the church/group and transfer banking to Faulu
- The church/group to continue Banking all the proceeds after disbursement
- 6 months certified bank statement and registration documents
- Resolution to borrow and minutes for the group
- Trust deed, constitution and memorandum and articles
- Copies of I.D. and PINS for the officials
- 3 year audited accounts for loans above KES. 10M 1-year cash flow projections for loans above KES. 10 M
- Title deeds
- Logbooks
- Shares
- Fixed Deposit
- 19% p.a RB - For amounts equal to or greater than KES. 10M
- 20% p.a RB - For amounts greater than KES. 100,000 and less than KES. 10M
- Additional interest for account non-utilization: 3% p.a RB is applicable after 6 months of account non-utilization
This is a loan product for development projects and the purchase of assets for both churches and registered groups are also included.
Formal securities other than the church sanctuary to be perfected such as