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In this video, I speak about the Stawi Loan App. It is a brand new way that banks are using to finance small businesses in Kenya.
The Stawi app was launched on May 20th 2019, and will first be made available to 3,500 traders for the first two weeks. It will be officially launched in June 2019. At this time, it will be open to 10,000 more traders before finally being rolled out to the general public.
This initiative is a collaboration between 5 banks. These are Commercial Bank of Africa (CBA), Cooperative Bank of Kenya (Coop Bank), Diamond Trust Bank (DTB Bank), KCB Bank Kenya and NIC Group.
The loan on the app will be unsecured, amounts between KES 30,000 and KES 250,000. The tenor will be 1 month to 12 months. The loan will have a facility fee of 4%, insurance fee of 0.70% and excise duty of 20% of the facility fee.
Other videos you should watch: How to register a business on E-Citizen: [ Ссылка ]
Loan apps in Kenya: [ Ссылка ]
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For any collaborations or business related queries, get in touch with me on email at mumowambua@zohomail.com
As always remember to innovate, create and grow.
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FINANCIAL DISCLAIMER
The information contained on this video and this Channel is not intended as, and shall not be understood or construed as, financial advice. I am not an attorney, accountant or financial advisor, nor am I holding myself out to be, and the information contained on this video and Channel is not a substitute for financial advice from a professional who is aware of the facts and circumstances of your individual situation.
