LOAN PRODUCTS

LOAN PRODUCTS

Members shall be entitled to different loans but will be limited to only one type of loan product at any given time. Ruiru Fund offers the following loan products:

  1. Development Loan

    This is an all-purpose loan granted to all members individually or to corporates to finance development projects.Features
    a) Must be fully guaranteed for both individuals and corporates.
    b) The duration of repayment shall be determined as per the loan repayment schedule.

  2. Business loan

    This product shall be used to finance trading activities. Features
    a) Shall be available to individuals and corporates.
    b) The loan shall be advanced to ongoing businesses only.
    c) The duration of repayment shall be determined as per the loan
    repayment schedule.

3. Emergency Loan

This loan shall be disbursed for unforeseen circumstances e.g. sickness, natural disasters or accidents.

Features
a) Will be taken at a maximum of Kshs.100, 000.00.
b) Must be fully guaranteed.
c) Shall be repaid within a period of 12 months
d) Corporate members shall not be eligible for this product.

4. Education Loan

This loan shall be disbursed to cater for school fees and related expenses only.

Features
a) The loan will only be disbursed after a valid school fees structure has
been presented to the management.
b) The loan shall be disbursed via cheque to the institution directly.

c) Shall be repaid within a maximum period of 24 months for post-
secondary education and 12 months for secondary and primary institutions.

d) Must be fully guaranteed.
e) Corporate members will not be eligible for this product.

5. Agribusiness Loan

This loan shall be granted for agricultural purposes aimed at promoting agriculture for food security, improved livelihoods and economic growth.

Features

a) The product features shall be customized to fit the diverse needs of
members.
b) The repayment period shall be limited to a maximum of 24 months.
c) Normal interest rate for all other loans shall also apply to this product.