Century Microfinance Bank loan products and contacts in kenya

Last updated on June 9th, 2023 at 10:19 pm

This is a list of Century Microfinance Bank loan products and contacts in Kenya.

Since 2020, Century Microfinance Bank provides financial solutions to 26,000 customers.

Century Microfinance Bank Contacts

Head office: Bihi Towers 8th Floor, Moi Avenue, Nairobi

Phone: 0722168721, 0756305132

Century Microfinance Bank loan products

1. Check discounts on accommodation

This product allows customers to get cash for their business needs while they wait for checks to clear. They can get up to 80% of the check value.

2. Emergency fund

This product is designed to meet emergency needs such as education, hospitals and contributions to NHIF. The loan amount is between Ksh 5,000 and Ksh 500,000. The repayment period varies from three months to twelve months.

Requirements

• Kenyan citizen, over 18 years & National ID card,
• KRA PIN certificate and passport Photograph.
• 10% compulsory savings
• 2 guarantors and must open accounts with Century Microfinance Bank.
• Stock and Chattel insurance.
• Passport Photograph (for first loans only.)

3. LPO/Invoice Discounting

This product provides clients with up to 70% of LPO benefits to help them meet their contractual obligations. Loan amounts range between Ksh 20,000 and Ksh 1,000,000. 

The repayment period is 3 months.

Requirements

• Kenyan citizen, over 18years,
• National ID card,
• The business has been running for at least 6 months.
• KRA PIN certificate,
• At least 6 Months Bank statements for clients who have not been with Century for at least 3 months.

 4. Jijenge Loan

This product is offered to companies and individuals as part of a development project or to facilitate access to resources. The loan amount is between Ksh 100,000 and Ksh 1,000,000. The repayment period varies from three months to twelve months.

Requirements

• Kenyan citizen, over 18 years
• National ID card,
• KRA PIN certificate
• Photograph (for first loans only.)
• At least 6 Months Bank statements for clients who have not been with century for at least 3 months.
• Management or Audited accounts(in case of a company)
• The business has been running for at least 6 months

5. Boresha Loan

Boresha Loans (Business Loans) are used to finance semi-operating capital and invest in loans. This product helps entrepreneurs to grow their business by trading or raising their capital.

One can qualify for a loan as low as Ksh 5,000 with a maximum repayment period of 36 months. The loan amount varies between 5,000 Kshs and 1,000,000 Kshs.

There are three types of Boresha loans; Upgrade the base, upgrade the power and upgrade the power.

a) Boresha Msingi Loan

Requirements

• Kenyan citizen, over 18 years & National ID card,
• KRA PIN certificate and passport Photograph.
• 10% compulsory savings
• 2 guarantors and must open accounts with Century.
• Stock and Chattel insurance.
• Passport Photograph (for first loans only.)
• The business has been running for at least 6 months

Loan size: Ksh 5,000- 200,000  (1st loan should not be more than 100,000)

Duration of Loan: 3- 12 months

b) Boresha Imara Loan

Requirements

• Kenyan citizen, over 18 years & National ID card,
• The business has been running for at least 6 months,
• PIN certificate and passport Photograph.
• 10% compulsory savings
• 2 guarantors and must open accounts with Century.
• Stock and Chattel insurance.

Loan Size : Ksh 5,000- 1,000, 000

Loan Duration: 3- 24 months

c) Boresha Dhabiti Loan

Requirements

• Kenyan citizen, over 18 years, National ID card,
• Stock insurance.
• 10% compulsory saving,
• The business has been running for at least 6 months
• KRA PIN certificate
• Passport Photograph.

Loan Size: Ksh 5,000 – 5,000, 000

Loan Duration : 3 – 36 months

6. Business Overdraft

This is a credit facility in which the bank allows the customer to withdraw money from their current account up to an agreed upon negative balance. 

The product targets SMB customers in the manufacturing, trade and service sectors, including limited liability companies, sole proprietors, freelancers and partnerships.

The maximum loan amount is three million shillings and the repayment period is 12 months.

7. Soko Loan

It is a quick one-time loan designed to provide quick cash to buy stocks, especially in the market when stocks arrive. It is processed within the same day up to Kshs 20,000 with a maximum repayment period of one month.

Requirements

• Kenyan citizen, over 18 years,
• National ID card
• Business has been running for at least 6 months,
• KRA PIN certificate,
• Photograph (for first loans only.)

8. Insurance Premium Financing

The loan is designed to facilitate payment of insurance premiums. Century pays lump sum premium so you can make small and comfortable repayments.

Requirements

• Kenyan citizen, over 18years,
• National ID card,
• KRA PIN certificate

9. mazao factor

This product allows the farmer to pay in advance up to 80% of the value of the product delivered to the carrier, producer, exporter or processor.

The buyer will release the payment to the farmer after 30-45 days from Century who will refund the deposit to the farmer with 2.5% of the amount paid and -give the remaining balance to the buyer.

10. zaidi

This product is designed to address the financial value of rental properties. 

It offers landlord collection accounts, rent collection solutions and credit facilities for new construction and home improvement.

You can receive a maximum of Ksh 5 million for a period of 60 months.

11. micro leasing

This product allows you to acquire resources for your business and pay for them later.

12. import duty financing

This product enables you to import your dream car worry-free with a 100% import service fee. 

Once your car arrives at the port, Century will handle all taxes on your behalf so you can avoid delays, expensive fines or even auctions. Full coverage is included so you can drive now and pay slowly.

13. Mazao loan

Also known as agricultural loans, this product is used to support agricultural investment and dairy farming. The payback period is between 3 months and 12 months, and the grace period depends on the cropping process.

This product has crop and livestock coverage, giving the gardener peace of mind. The loan amount is between 5,000 and 1,000,000 Ksh.

The loan is processed within 48 hours and has a maximum repayment period of one year.

Requirements

• Kenyan Citizen, over 18 years & National ID Card,
• lease agreement,
• KRA PIN certificate,
• Passport Photograph (for first loans only.)
• 10% compulsory savings,
• Demonstration of ownership of rights to use land.
• Livestock and crop insurance