About Private School Financing
- Private School Financing is a specialized financial solution crafted to address the cash flow challenges that private schools encounter in their daily operations.
- This offering provides up to Kes. 1 million in unsecured financing, with a repayment term of 4 months.
- Eligible schools must have been operational for at least 3 years and possess a Ministry of Education Certificate.
- With a swift 24-hour processing time and competitive rates, this facility ensures that educational institutions can seamlessly bridge financial gaps and maintain their commitment to delivering quality education.
Private School Financing Features
FINANCING
Up to a third of your termly school fee collection
LOAN LIMIT
Up to Kes. 1M
LOAN PERIOD
Up to 4 Months
SECURITY
Unsecured
PROCESSING
Within 24 Hours
Requirements
School Registration Documents
School KRA PIN
Directors KYC
(ID, Photo & KRA)
Bank Statement
(12 Months E-statement)
MoE Certificate
Post-dated Cheques
STEPS TO APPLY
1. Loan Application
Fill in the online application form.
2. Loan Appraisal
We will determine how much you qualify for.
3. School Visit
We will visit your school as part of our due diligence.
4. Sign Loan Agreement
Sign the loan agreement outlining the terms and conditions of your loan.
5. Disbursement
We will send the funds to the school's bank account.
Apply For Private School Financing
Fill and submit the form and we will reach out to you asap!
Frequently Asked Questions (FAQs)
What are the eligibility requirements?
The school must be an operational private school.
The school must have been in operation of a minimum of 3 years.
The school must possess a Ministry of Education Certificate.
How much can i borrow for my school?
You can borrow a minimum of Ksh. 50,000 and a maximum of Ksh. 1,000,000
Do you perform CRB checks?
Yes, we check your school’s CRB information. This helps us to understand your current financial commitments and how you have serviced other loans in the past.
What interest rate do you charge?
We charge between 2% and 10% flat rate monthly interest depending on the risk profile of your school.
Will you send me all the loan details before you activate my loan?
Yes we will. We value transparency. As a responsible lender, we will disclose all the information regarding your loan to you and send a loan agreement containing all loan details plus the repayment schedule to your email before activating your loan. We will only proceed once you are ok with all the terms and conditions and with your express consent.
Do i get the benefit of paying on time?
If you have successfully paid off one loan with Wemma Fintech, the next time you apply you may enjoy higher loan limits and lower interest rates.
What security do you take?
We do not ask for any physical security upfront.
What are the benefits of this facility?
Quick processing.
No upfront security.