Caritas Microfinance Bank Loan Products – 11 benefits

This article is about Caritas Microfinance Bank Loan Products – 11 benefits of joining Caritas microfinance bank. The bank was licensed by the Central Bank of Kenya to operate as a deposit-taking microfinance institution on 2 June 2015. Caritas, founded by the Catholic Archdiocese of Nairobi, has its headquarters in Cardinal Otunga Square along Kaunda Street in Nairobi. The bank operates 6 branches as listed above on this site.

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Caritas microfinance bank loan products

Caricash mobile loan

This is an instant mobile loan reserved exclusively for bank customers. The loan is intended to deal with emergencies and working microcapital needs. The loan limit ranges from 100 to 70,000 Kenyan shillings. He has a repayment period of 1 month. The loan can be accessed by dialing *811#.

Salary advance

This is a short-term advance to help dependent customers meet the urgent needs of small families, e.g. rent, bills.

Loan for the development of mustard seeds

This product is designed for the growth needs of micro, small and medium-sized businesses. The funds can be used for working capital, asset acquisition and business expansion. The loan term is up to 4 years.

Asset finance loan

This product is designed to help customers acquire tangible assets such as vehicles, machinery and other assets for business or personal use.

discount on invoice

The invoice discount allows the customer to obtain immediate value for their invoices. Caritas advances funds to suppliers who already have invoices issued to buyers for completed work.

Salary Compensation Loan

This loan product is available for salaried employees.

Hekima Education Loan

This loan provides access to quality education at all learning levels. The funds are paid directly to the school.

Solidarity group loan

This product is aimed at registered groups. It allows groups to finance development projects. 11. Institutional loan (schools, churches, hospitals)
A loan product aimed at registered institutions to finance projects, asset acquisition, etc.

Local Purchase Order (LPO) Financing.

LPO financing allows customers who have obtained purchase orders or letters of award to deliver goods and services or perform contract work. Caritas provides funding from a minimum of Ksh 50,000 to Ksh 10 million for LPO funding. They have a processing fee of 3% and an interest rate of 2% per month reducing balance.

Financing of insurance premiums

This loan product is designed to meet your insurance needs. The customer can benefit from the insurance coverage immediately by paying the premiums over the long term.

For more information, contact Caritas