How many mfis are there in kenya

For those who want to venture into agriculture, the Farmer loans from Uwezo are the best option in the market. This is one of the youngest Institutions on the market. Currently, it stands as the most paper-less Microfinance institution on the market. With Musoni, there are no hidden charges when registering. On loan applications, the loans are processed within 72 hours and deposited into your account. Rafiki Microfinance is one f the few MFIs that offer diaspora banking, savings, and loan services.

Below are Rafiki MFI contacts. This is a new MFI on the market. The institution was founded in March but has a huge customer base that is steadily increasing. Momentum Credit aims to provide for the overwhelming demand for capital to SMEs and individuals. Just like other MFIs, Century offers saving and loan services to customers. However, this MFI specializes in agribusiness loans. Deposits to Century are made through Mpesa, and customers get the loans directly to their accounts within a brief period.

These institutions provide the youth with opportunities to achieve financial freedom. However, I advise that the money borrowed from MFIs should be strictly used for the intended purpose, income generation. This is because the borrowed money has to be repaid at an interest. Different Institutions use different criteria to determine those eligible for funding. In most cases, eligibility is based on gender and age. This means some microfinance Institutions offer loans to special groups such as underprivileged women.

Box Telephone: Mobile Remu Microfinance Bank Ltd. Sumac Microfinance Bank Ltd. Harrison is a zoophilist who loves to spend time with animals, especially allergy-free dogs and cats. He doesn't suffer from pet allergies. But he would love for the world to be allergy-free.

Harry is also a male sexual health expert. We use cookies to ensure you get the best experience on our website. Read more. That's Fine! Please share on your favorite social media! Musoni loans are accessible and easy to apply for—loans are processed and available in your account within 72 hours.

This MFI has many branches where you can chat with their staff, but all money transactions are done through mobile. Uwezo provides both savings and loan facilities. This MFI offers short-term loans that are affordable and flexible.

Their farmer loans are perfect for those who are into smart farming in Kenya, cattle rearing, tomato farming, and other farming ventures. This is one of the MFIs in Kenya that offer diaspora banking, savings, and loan products. Get affordable asset finance, loans for Chamas, and Saccos. Farmers can open a Kilimo Biashara Account to receive affordable farming loans. This MFI specializes in providing credit to agri-businesses in Kenya.

The MFI has a handful of branches around Nairobi, the central region, and western. The headquarters are in Gikomba, and other offices are located in Githurai. This is another Microfinance institution in Kenya. It is entirely new but has a considerable customer base, and it is growing fast. Momentum Credit was founded in March with purposeful intent to meet an overwhelming market need of providing structured working capital solutions to Individuals and Small Medium Enterprises SMEs. Interest rate: They are mostly calculated on a flat basis and some at a declining balance.

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