List of Caritas Microfinance Bank Loan Products

This is a list of loan products offered by Caritas Microfinance Bank. The bank was licensed by the Central Bank of Kenya to conduct business as a deposit-taking microfinance institution in 2nd June 2015. Caritas, which was established by the Catholic Archdiocese of Nairobi is headquartered at the Cardinal Otunga Plaza along Kaunda Street in Nairobi. The bank operates 6 branches as listed on this site before.

Caritas Microfinance Bank Loan Products

1.Caricash Mobile Loan

This is an instant mobile loan exclusive to the bank’s customers. The loan is meant to address micro working capital needs and emergencies. The loan limit ranges from Ksh 100 to 70,000. It has a repayment period of 1 month. The loan can be accessed by dialling *811#.

2. Mustard Seed Development Loan

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

3. Insurance Premium Financing

This loan product is designed to cater for insurance needs. The customer can enjoy the benefit of an insurance cover immediately, while they pay their premiums over a long period.

4. Asset Finance Loan

This product is designed to help clients acquire tangible assets like vehicles, machinery and other assets for a business or personal use.

5.Local Purchase Order (L.P.O) Financing

LPO financing allows clients who have obtained purchase orders or letters of award to deliver goods and services or to carry out contractual works. Caritas provides financing from as low as Ksh 50,000 to 10 million for LPO financing. They have a processing fee of 3% and an interest rate of 2% per month reducing balance.

6. Invoice Discounting

Invoice discounting enables a client to get immediate value for their invoices. Caritas advances funds to suppliers holding invoices that they have already issued to buyers for completed jobs.

7. Salary Check-Off Loan