Kenya Women Microfinance Bank is a kitty that cares significantly about Kenyan women. This microfinance institution understands that empowering a woman means empowering a family. Nothing would be more accurate than this.
In this article we will then look at the brief history of this bank and the various loan products it provides to women all over the country with nowadays references thanks to the global finance blog, money brighter.
A trip down to history lane
The Kenya Women Microfinance bank started back in 1981 when a group of professional women designated this financial institution. It’s worth mentioning that they established it to deliver financial services exclusively for women alone.
Moreover, it is worth recalling that this act required them to have great bravery and strength sometimes back. Kenya Women Microfinance bank emerged to be when a woman’s bank account was something more like a taboo.
Nevertheless, this bank has persisted to bank on women for decades now while encountering immense growth. For instance, it began with only two branches, one at Karatina and Kilifi.
Today, this bank is located in 45 counties all over Kenya, with more than 245 offices. Moreover, it has not less than 2,800 employees in all these offices. Therefore being a significant employer in Kenya as well.
Last year this bank was honored for setting high standards on financial sustainability. Therefore, it is worth examining at the financial products and services it presents its clients.
Loans Presented by Kenya Women Microfinance Bank
This bank provides a wide variety of loans to its customers. These loan offers include but are not limited to:
If you are a business lady who has been looking for financing, KWFT has got your back. This loan product is split into three:
Biashara loan is for small and medium-sized businesses like a neighborhood supermarket. You can borrow up to Ksh, 3000,000 with a repayment term of up to 10 years.
Mwangaza Loan If you are a woman operating a medium-large business, say like running a manufacturing business, this is the affordable loan product to take.
Mwamba loan – this loan is for particular women entrepreneurs; say you are a tailor.
Whether you are a new customer or an existing one, asset financing loan is designed to help you needed a fixed asset. One could buy a tractor, motorbikes, office equipment, among others.
Elimu loan is an education loan product presented by KWFT to its clients.
School fees costs at all grades of education
Loans are pulled directly to the school
You can fund your own education as an associate of KWFT, or you can finance that of your dependant.
No guarantee is required. As a result, processing this loan is quick.
These loan outgrowths are not to invest but for the consumer to enhance their standard of living.
Phone loan – A loan advanced to customers to purchase a mobile phone to take part in mobile banking. This loan is aimed to encourage mobile banking.
Salary loans – KWFT comprehends that, at times, your salary might not be adequately. As a result, a salary loans is extended to any client whose employer has an MOU with KWFT to pay check-offs.
Clean and renewable energy loans
Kenya Women Microfinance bank comprehends the need to invest in clean and renewable energy and produce it accessible to everyday people. Via this loan product, a member can be able to access the following developments:
Clean energy cooking stoves – A component with this loan will access financing to buy a clean energy stove.
Biogas plant if you are a dairy farmer & would like to construct a biogas plant on your ranch, this loan will help you actualize this passion.
Solar Lighting solutions – KWFT comprehends that electricity might be a issue in some regions. Therefore, it makes this loan product available for individuals to buy solar energy products.
Stima loans – If an associate wants to install electricity in their homes, then KWFT expands this loan product to them.
Water Sanitation and hygiene loan
If you would like to own a water tank or even refined it a water cleaning equipment, KWFT will make an reasonable loan product available for you to take out.
Kilimo Bora Loans
In addition to all the loans shown above, KWFT comprehends that most women are working in the farming sector. Therefore it has a type of loans in this sector which include:
Dairy Farming Loan
Poultry farming loan
Mzinga loan – honey farmers
Greenhouse farmers kit
Nyumba smart loan
This is a loan made unrestricted to enable members to purchase construction materials to build a home. It’s essential to note that this loan is available for all associates to carry out either of the following:
Finish a house
Expand a house
Renovate a home
Construct a house
The pleasing news is that one earns 100% financing of all the cost calculations.