This is a list of loan products offered by Faulu Microfinance Bank. It is one of the 13 licensed microfinance banks in Kenya that has been operation since 1991. The bank which is a subsidiary of The UAP Old Mutual Group was recently recognised as one of the fastest-growing banks in the country. It is headquartered along Ngong Lane, off Ngong Road in Nairobi. They have more than 55 branches across Kenya.
Faulu Microfinance Bank Loan Products
Faulu Microfinance Bank loan products are classified into four categories; Retail/Consumer Loans, Micro & Group Loans, SME/Business Loans and Agribusiness Loans.
a) Retail/Consumer Loans
1. Check-Off Loans
These are multi-purpose check–off Loans for salaried employees, TSC, Civil servants, Disciplined Forces, County Governments, Parastatals and other selected corporates
Features and Benefits
- Min. of Ksh 10,000 and Max of Ksh 3,000,000
- Loan term of up to 84 Months
- Competitive interest rates
- Quick loan processing on application
- Top-up feature available
2. Corporate Check-Off Loans
This product is designed for salaried customers whose terms of engagement are dictated by an MOU between Faulu Microfinance Bank and the respective institutions.
Features and Benefits
- Min. of Ksh 10,000 and Max of Ksh 3,000,000
- Loan term of up to 84 Months
- Quick loan processing on application
- Top-up feature available
3. Tamba Imara Check-Off Loan
This product targets salaried people working with Institutions where Faulu doesn’t have an MOU e.g. NGOs, Local and International Agencies etc.
4. Faulu Unsecured Salary Advance
This is a short term emergency loan designed for customers with Faulu Salary Account.
Features and Benefits
- A maximum of 4 times the net salary subject to a maximum of Ksh 100,000.
- Monthly Automated Standing Orders from Faulu Salary Account to Loan Account
- Flexible repayment term
- Quick processing timeline
b) Micro & Group Loans
1.Faulu Micro Loan
This product is designed for small businesses/entrepreneurs. It is suitable for Working capital, LPO financing and business emergencies.
Features and Benefits
- Refinancing is available subject to appraisal when the existing loan is 75% paid from the 2nd Loan cycle
- Loan size Min: Ksh 1 million Max: Ksh. 3 million
- Tenure: 18-36 months
2. Group Business Loan
This product targets self-help groups who intend to grow and improve their businesses.
Features and Benefits
- Flexible collateral options
- Access to multiple loans subject to the ability
- Loan size Min: Ksh 5,000 Max: Ksh 500,000
- Tenure: Min 3 -24 Months
3. Faulu Chama Loan
It targets formal and informal groups such as investment clubs, merry-go-rounds and welfare groups and are operating a Faulu Chama account.
4. Pesa Chap Chap
This is a short term mobile emergency loan.
Features and Benefits
- Instant disbursement on phone
- Loan size: Ksh 300 – Max 10,000
- Tenure: 10 days
c) SME/Business Loans
1.Biashara SME Loans
They are designed to facilitate scaling up of businesses through accessing affordable financial services.
2. Asset Finance
Faulu Asset Finance product supports SMEs and Individuals acquire assets such as Personal cars, trucks, trailers, plant machinery etc. with affordable Insurance premium financing.
3. Faulu Landlord Loan
This product is available to landlords who may wish to alleviate their businesses at large. It is available to Landlords who have developed property with a stable rental income in Cities, Counties and Municipalities.
4. Bid Bonds & Guarantees
They are ideal for business clients in supplies and contracting business with Governments, Parastatals, Private Entities, Distributors to:
- Facilitate smooth business flow
- Expand business opportunities
- Help customers manage their business risks and supply chain
5. Insurance Premium Financing (LPF)
The product enables you to pay your insurance premiums in instalments rather than in one lump sum amount.
Features and Benefits
- Supports Individual and SMEs to pay Insurance Premium with reputable Insurance companies
- Loan size: Ksh 3,000 – 3 million
- Tenure: Up to 10 Months
6. Ushirika Loan
This product offers flexible financing arrangements for churches and para-church organizations’ income-generating projects.
Features and Benefits
- Loan for development projects and purchase of assets for both churches and registered groups
- Loan size: Min Ksh 50,000 – Max Ksh 20 million
- A grace period of up to 2 months
d) Agribusiness Loans
1. Green Gold Loan
This is a product designed for tea farmers to help them meet their immediate financial needs.
Features and Benefits
- Access loans of up to 75% of the value of tea bonus earned in the recent 3 years
- Flexible loan repayments structured to accommodate the tea bonus payments
- Loan size: up to Ksh 500,000
- Tenure: Up to 12 months
2. Nafaka Loan
It is ideal for farmers trading in cash crops such as maize, wheat and sorghum to facilitate them secure financing for Farm inputs.
Features and Benefits
- Loan size Ksh 5,000 – 3 million
- Tenure:3-12 months
- Flexible repayment terms dictated by the crop cycle
3. Maziwa Loan
This product enables farmers to buy dairy cows for more milk productivity and farm improvement.
Features and Benefits
- Flexible repayment terms based on milk remittance cycle
- Loan size: up to 3 million
- Tenure: up to 36 months
Faulu Microfinance Bank Contacts
Head Office: Ngong Lane off Ngong Road, Nairobi
Phone: 0711 074 000 , 0711 074 074
