How To Get A Business Loan From Equity Bank
For young companies that are too green for a bank to financially get behind a home equity loan can be an attractive option. Loan amounts from 26000 to 750000.
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Depending on the customers interest the bank offers advice on the best type of loan to suit the need.
How to get a business loan from equity bank. The requirements are that you be an account holder with equity bank submit your application in time and demonstrate other means of income that can be used to cover the loan. You can contact Equity Bank on 0763 063 000 if you have any further inquiries. This status can be attributed to the efficiency and availability of Equity Bank business loans.
Equity bank customers can apply for the Eazzy loan at ease and even at the comfort of their homes or offices. Home equity loans not available for properties held in a trust in the state of Oklahoma. Banks will also want information about your business such as the structure and size in order to assess your risk value.
Business equity loans work similarly to home equity loans you leverage the amount of equity you have in a piece of property you own to act as security for a loan. Financing the purchase of optional GAP insurance or credit life and disability insurance will increase the payment amount. The process of applying for mobile loans at Equity Bank Kenya is easy and smooth.
A Loan to Help Your Business Grow Whether your business is just getting off the ground or youre ready to look at expansion we have the loans you need to be successful. Minimum loan amount of 2500. Unsecured loans are not currently offered by Equity Bank.
Get the cash you need to grow with our Business Equity Loan. Go to Equity Bank Kenya Loan Calculator Page. You can easily find Equity Bank Kenya Loan Calculator on their website.
Home Equity Loan and Smart Refinance. Loans are subject to credit approval and program guidelines. If youve built up a nice amount of equity in your home you may want to check out our Home Equity Loans.
Equity bank business loans are now available to sort you out. You just need to own an Equitel mobile line and an active equity bank account. For Eazzy Loans you dont need to account at Equity Bank since the.
Send and Receive Cash. You then get to check your bank balance transfer money send and receive cash withdraw money apply for a loan repay the loan request a statement save budget and fund specific goals. You can instantly open an Equity account by dialing 247.
Equity Bank can streamline the application process and provide you with a fast turnaround on approvals. Looking for Equity Bank Kenya Loan Calculator. Your home equity happens to be an affordable accessible source of cash but using it doesnt come without risk if your business fails your house could end up going down with the ship.
Because of this security you can generally expect lower interest rates and better terms especially if the property has a good deal of equity. This fixed-rate loan secured by your primary residence offers. Whether youre ready for your next set of wheels upgrading your home or just looking to purchase something special weve got the loan thats right for you.
Ask your Equity Bank experts to help you find the best option for you. You will receive an SMS confirmation for the loan If you dont have an Equity Bank account simply dial 247 using your current number and open one instantly Hapo Hapo then pick your Equitel line from your nearest Equity Bank branch. Before you take an Equity bank Kenya loan you might want to check the rate to pay or amount to be paid monthly.
An SBA loan can benefit your business in a variety of ways. Our commercial lenders take the time to learn about your business and find the best financing solutions. Single family properties comprise detached homes condominiums or townhomes.
Be an active account holder with Equity Bank Submit loan purpose for financing business working capital and operational needs Submit loan application within a reasonable time Be able to clearly demonstrate existence of other sources of income that could be used for loan payment. Terms up to 10. Loan amount of 10000 for 36 months at 334 with 100 origination fee results in 399 APR and a monthly payment amount of 29524.
To apply for a loan you will need to prepare a loan proposal which covers the figures of your business how much you would like to borrow and how you will repay the loan. Among the many banks or lending institutions in Kenya Equity Bank Kenya stands out above its competitors. To access the loans mentioned above you need to visit an Equity Bank branch or agent and have an account.
Bank personal checking or savings account is required but neither are required for loan approval. How do business equity loans work. MERCHANDISE LOANS Maji Loan A loan for facility that makes it easier to access clean water.
Equity Bank Kenya Loan Calculator. In order to receive the lowest rate advertised a set-up of automatic payments from a US. If you need long-term financing to grow your business purchase new equipment or restructure debt and youre a homeowner consider our Business Equity Loan.
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