6 Types of Equity Bank Business Loans

Anne Katana

Read on to find out the available equity bank business loans in Kenya.

While you are starting a business or a project, you require money, but then you may necessarily not have it then, but that should not hinder you. Equity bank business loans are here to sort you out.

But first, let’s learn something about the Bank. It was started in 1984 as a mortgage financial institution for people earning a low income.

Since then, it has grown to be one of the largest banks in Africa, serving over 9 million customers.

For over 30 years, Equity Bank has proven to be one of the most favorable banks, especially to the common mwananchi providing affordable business loans to its customers.

In this article, I will take you through some of the Equity bank business loans that may be helpful, especially while starting or expanding your business.

List of Equity Bank Business Loans

Here is a list of the best Equity bank business loans available at Equity bank

1. Agriculture Loans

This is the kind of Equity bank business loan you take as an individual practicing agribusiness and wish to expand or improve your farming business.

This could include expanding a ranch where you are raising grazing livestock such as cattle or sheep for commercial purposes.

Under Agriculture is a list  of other mini loans, which include

  • Kilimo Biashara Loan for small-scale farming: This is where the Bank finances the farmer to buy farm products like Seedlings, fertilizers, labor, machinery, among others.
  • Kilimo Biashara Loan for agribusiness: These are loans that finance individuals in the business of dealing with agricultural inputs and equipment.
  • Maendeleo Loan: Helps farmers into the agricultural development business as the construction of greenhouses, among others.
  • Kisasa Loan: This is a loan especially meant for the small scale farmers to cater for the modern agricultural types of equipment like milking machinery
  • Farm Input loan: This is the financial help of the Bank meant to assist the farmer in purchasing farm inputs. It is also meant for farmers with monthly remittances with Equity Bank Limited.
  • Commercial Agricultural Loan: This is the loan meant to benefit large-scale farmers, e.g., large firms dealing with agricultural products.
  • Aggregated Agricultural Loan: This is the kind of loan where the Bank funds a group of small scale farmers as opposed to individuals

2.Equity Bank Business Loans – Women Loan’s

The loans are taken by women in business and are looking to expand or support their enterprise financially.

Under women’s loans, let us look at the different types of loans

  • Fanikisha Fedha: This kind of loan targets a group of 15-30 women with the same business mindset and offer training to develop their businesses
  • Fanikisha Platini: This is the loan which is given to individuals as well as helps in providing business motivational talks
  • Fanikisha Dhahabu: The loan is given to individuals and has a flexible repayment of up to 2 years
  • Fanikisha Imara: This a loan given to individuals with the benefits of gaining access to training at affordable and discounted rates
  • Fanikisha Almasi: This is a loan lender to individuals with the benefits of flexible collateral options to meet their needs, business advice from experts, and training

3. Micro-finance Loans

Under this loan, we have

Micro Business loans: The loan is given to the youth to help them grow their businesses further.

Development Loans: This is available to Small Medium Enterprise to help them in the expansion of their businesses

4. Asset Finance Loans

This is the loan offered in order assets, including motor vehicles, construction equipment, industrial plant & machinery, and agricultural equipment.

The advantages of this particular loan is that

  1. It is quick to process
  2. Its repayment terms are flexible to the debtor.
  3. The assets you Purchase using the loan can be used as security.

5. Trade Finance Loans

This is the loan offered to individuals to facilitate the trade of goods and services both locally and internationally.

6. Equity Bank Business Loans – Loans

This is the Equity bank mobile loan which is easily accessible through mobile phones.

For you to access the loans, you must have the following requirements.

With an Eazzy loan, you can get up to Ksh 3million straight to your phone.

Here are the requirements needed for you to access the loan.

  • Must have an Equitel line or an equity bank account that has been active for about 6months.

Alternately, download the EazzyApp using the following steps

How to download the Eazzy App

  • Must have an android phone, go to the phone’s Google play store
  • Click on the Eazzy App, download and install the App to your phone, and get started with your App.

Requirements for acquiring Equity bank business loans

  • Must be an equity bank account holder
  • Have at least an Equitel line to access some loans
  • Download the Eazzy App
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Anne is a student of history. She enjoys sharing her passion and experiences with people through blogging. She started nasonga.com to educate and inspire people globally.