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Jijenge Credit Ltd
About
JIJENGE CREDIT LIMITED, a non-deposit taking Micro Lending Institution, was incorporated as a Private Limited Company under the Companies Act (Cap 486) of the Laws of Kenya, on November 20, 2014 and commenced operations on November 21, 2014. We at Jijenge Credit take pride in being accredited among the digital credit providers as directed by the Central Bank of Kenya in 2022.
The Credit Only industry is making large strides in terms of providing financial services to clients. This industry takes care of challenges that traditional banking poses to potential clients: Accessibility, turnaround time and personalized customer care.
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Products and services
JIJENGE CREDIT LIMITED
PRODUCTS DESCRIPTION
1. LOGBOOK LOAN
Introduction to the product
The logbook loan is a loan that is secured against the value of your car. This loan can be used for any purpose and is ideal for people looking to expand their business, foray into new ventures, or supplement the working capital cash flow deficits.
All logbook loans are subjected to a loan appraisal process. Once a loan has been approved the loan will be disbursed within 24 hours, either via Mpesa, cheque, or to a bank account.
Who qualifies
Anyone who owns a private, commercial, or passenger service vehicle.
Loans can be secured by more than one motor vehicle at the same time.
Loan application requirements
• 6 months’ bank & Mpesa statements
• 2 clear copy of the original id.
• 2 copies of KRA pin.
• 2 recent color passport-sized photographs
• Original vehicle logbook
• Valid comprehensive insurance cover.
• Motor valuation report/ renewal notice
• The loan tenure is up to 24 months
Payment term
The repayment period ranges from 1 to 24 months.
There are no penalties for settling your financial liability before the end of your contract term.
Amounts
Minimum loan amount: Ksh. 50,000
maximum loan amount: Ksh. 10,000,000
2. TITLE DEED LOAN
Introduction to the product
The title deed loan is a loan that is secured against the value of your land. This loan can be used for any purpose and is ideal for people looking to expand their business, foray into new ventures, or supplement the working capital cash flow deficits.
All title deed loans are subjected to a loan appraisal process. Once a loan has been approved the loan will be disbursed within 24 hours, either via Mpesa, cheque, or to a bank account.
Who qualifies
Anyone who owns developed property with rental income.
Loan application requirements
• 6 months’ bank & Mpesa statements
• 2 clear copy of the original id.
• 2 copies of KRA pin.
• 2 recent color passport-sized photographs
• Original title deed
• Property valuation report
• Rent payment schedule
• The loan tenure is up to 24 months
Payment term
The repayment period ranges from 1 to 24 months.
There are no penalties for settling your financial liability before the end of your contract term.
Amounts
Minimum loan amount: Ksh. 50,000
maximum loan amount: Ksh. 10,000,000
3. CHEQUE DISCOUNTING
Cheque discounting helps you access cash fast! Get your cash now against cheques issued by reputable companies at competitive commission rates. The product ensures you obtain immediate cash against your cheque drawn by a reputable company, whether current or post-dated. This ensures a continuous flow of your business working capital which would otherwise be affected awaiting the cheque to complete the clearing cycle.
Cheque discounting benefits
• Fast disbursement
• A cheque is discounted to the maximum of 95%.
• Affordable with no hidden charges
Requirements
• Cheque being discounted.
• Id copy of the applicant.
• Where available, a copy of an acknowledged invoice or payment voucher, to support the payment.
There are no penalties for settling your financial liability before the end of your contract term.
4. IMPORT DUTY FINANCE
Jijenge credit limited adds value to import business by offering a full range of products and services to support all your import trade activities. We provide up to 100% financing of your import duty facilitating faster settlement of such duty charges and any other port charges. Our flexible facility ensures that you do not pay penalties, demurrage charges, or have your cargo stuck at the port.
Features of import duty finance from Jijenge credit limited:
• This facility offers a faster way of settlement of duty charges to Kenya revenue authority (KRA) and other port charges to avoid penalties.
• The facility is available to importers of approved goods e.g. Motor vehicles, equipment, secondhand clothes, etc.
• Duration: maximum .12 months
• Security: 100% in form of any collateral acceptable to Jijenge Credit Ltd or on the goods being cleared
• Financing can be up to 90% of the customs duty and other port charges.
• Benefits of import duty finance from Jijenge credit limited:
• Quick turnaround time in the processing of requests
• Affordable and competitive rates
• Flexible security terms
• High-level professionalism and expertise in handling the needs of all categories of importers
Requirements:
• Copies of import documentation for the goods (commercial invoice, bill of lading, IDF, etc.)
• Quotation for import duty and clearing charges from a Jijenge credit limited approved clearing agent
• Id original and copy
There are no penalties for settling your financial liability before the end of your contract term.
5. SALARIES CHECK OFF LOANS
These are loans made available to employees whose employers have signed a memorandum of understanding with Jijenge credit limited, to allow their employees to take loans. The employer will then process and remit the loan repayments directly to the lending institution (Jijenge credit limited)
Benefits of check-off loans:
• These loans typically do not require any security
• Usually processed very quickly
• In the case of banks, they are one of the few ways to get a loan from a bank without opening an account with them
• In some cases, the repayment terms are more flexible than most other loan types
What is in it for the employer?
When an employer offers this type of loan to employees, it is a benefit, or a perk, for employees. Basically, like in any other business, employers only give bonuses if it will benefit the employer. Employers often use facilities such as “check-off loans” to attract new recruits or motivate current staff to stay with the employer. It is purely a business decision.
Requirements, what do you need?
• 3 months’ latest pay slips (certified)
• Original id and 2 copies of the same
• Job id if available
• 2 copies of KRA pin certificate
• 2 colored passport size photos
• 6 months certified salary bank statement
• 6 months certified Mpesa statement
There are no penalties for settling your financial liability before the end of your contract term.
6. ASSET FINANCING
Jijenge credit limited is unarguably one of the leading asset finance companies in Kenya.
In our quest to ensure flexibility and prompt asset loan acquisition, repayment, and customer satisfaction, we often combine expertise, experience, and professionalism in delivering our services. With our asset-based finance, you can easily secure a loan for your car. Reach out to us today to know more.
What you need to have:
• Original & 2 copies of logbook
• Original &2 copies of national id
• 2 copies of KRA pin certificate
• 2 colored passport size photos
• 6 months’ bank & M-pesa statements
• Motor vehicle valuation report
• Sales agreement
7. INSURANCE PREMIUM FINANCING (IPF)
Insurance premium financing (IPF) is a product that empowers you to pay your insurance premiums. You can achieve this in portions instead of in one singular amount sum. Jijenge credit insurance premium financing (IPF) is just taken for transient strategies, that is, those that are sustainable yearly.
Instances of such protection arrangements:
• Fire and dangers.
• Motor – commercial or private.
• WIBA.
• Robbery.
• Clinical insurance.
• Contractual workers all-hazard.
• Group life.
Jijenge credit insurance premium financing (IPF) takes care of your needs in terms of insurance premium payment. For associations, different protection approaches can be joined to a solitary premium fund contract taking into consideration a solitary installment intends to cover all protection inclusion.
Requirements:
• 2 clear copy of the original id.
• 2 copy of KRA pin.
• 2 recent color passport-sized photographs
• Original and 2 copies vehicle logbook
• Motor valuation report/ renewal notice
8. LPO FINANCING
Requirements
Before accessing LPO financing, Jijenge credit limited requires applicants to provide specific documents. These documents allow the processing of such loans against specified collateral. Some of these documents include;
• Valid LPO or LSO contract
• Tangible collateral such as title deed or logbook
• Pro-forma invoice for the goods supplied
• Proof of job history between the seller and buyer through completed invoices and delivery notes
• Valuation report, if any
• Original business registration and permit
9. GUARANTEES
A guarantee is a unilateral contract between Jijenge Credit Ltd as a guarantor and the customer as a warrantee, in which Jijenge Credit Ltd undertakes to make payment to a specified beneficiary within limits of a stated sum of money in the event the customer/warrantee fails to perform an obligation.
a) BID BONDS
• Tender bonds are undertakings by a bank in support of a contractor/supplier bidding for a work contract.
• Provides the beneficiary with a financial remedy if the applicant fails to fulfill any of the tender conditions.
• Normally submitted with other documents called for in the invitation to tender and remain valid during the period of the tender plus a grace period to allow the beneficiary to make a demand.
Key elements
• Used during the bidding stage.
• Usually 2% to 5% of the value of the bid.
• Used to alleviate the cost of non-performance during the contract award stage.
• The duration of the tender usually ranges from 30 to 150 days.
special feature of bid bonds loan
• Unsecured up to Kshs 3 million.
• Can be issued within one hour after receipt of a complete application.
• Can be used at any of our Jijenge Credit Ltd branches countrywide.
• Affordable and competitive rates are levied.
Requirements for bid bonds one hour
• Guarantee application giving the following details.
• Applicants name.
• Beneficiaries name.
• Amount required.
• Duration of the bid bond.
• Purpose of the bid bond.
• Copy of the tender document page showing the above details (if available).
• Tender/ bid bond format.
b) PERFORMANCE BONDS
Performance Bonds are a requirement upon the award of a contract as a commitment to the successful completion and fulfillment of the terms of the contract.
They are often issued for supply, projects or service contracts in order to guarantee the quality of works and timeliness or delivery. In other cases, a performance bond may be requested to be issued in other large contracts besides civil construction.
c) ADVANCE PAYMENT GUARANTEES
In some cases, your business may require advance payments to be able to kick start a project and further fulfil the terms of the contract satisfactorily. Jijenge Credit Ltd is able to provide an advance payment guarantee to you providing assurance that the payments issued by the project owners will be used as intended – towards the satisfactory completion of the project as per the terms of the engaged contract.
10. MOTORBIKE AND TUK TUK FINANCING
This product enables young entrepreneurs’ access funding for the purchase of Boda boda or tuk tuk due to lack of full capital.
Product features
• Low interest rate per month.
• Low processing fee
• Comprehensive insurance cover strictly by Jijenge credit approved insurance agency.
• Credit life insurance
• Loan repayment term: max 24 months.
• Repayment frequency: daily or weekly.
• Repayment method: Mpesa till number or via bank.
Requirements
• 2 colored passport photo.
• Original and 2 copies of id.
• 2 copies of KRA pin.
• Six months certified m-pesa statement.
• Three guarantors (provide id copies, one guarantor to be a relative).
• Client contribution Kshs. 20,000.
• You'll then pay the remaining balance plus interest in equal monthly repayments over the agreed term.
• Loan repayment term: max 24 months. Repayment frequency: daily or weekly. Repayment method: Mpesa or bank deposits.
• After you've made all the repayments including any interest, you will become the owner of the motorcycle.
11. AGRIBUSINESS LOANS
This is a loan used for commercial farming with flexible repayment plans designed to correspond to the respective crop seasons. In addition, this loan product looks to facilitate acquisition of quality farm equipment in respect to the agri-business venture.
Jijenge Credit Ltd offers agribusiness loans to farmers to facilitate the purchase of farm inputs such as seeds, chemicals, fertilizers and related farm operation activities. Agribusiness loan product enables farmers to acquire a wide range of farm animals and invest in high breed dairy cows, value added cash crop growing, boreholes, greenhouse farming among others.
Our agriculture loans requirements include,
• Original national id or passport and 2 copies
• Copy of KRA pin
• Bank/mobile money statements for the last 1 year
• Evidence of ownership and experience in the business
• Evidence of regular produce delivery to the local centers for product such as milk, tea, coffee, pyrethrum
• Formal security – logbook, title deed etc.
Benefits
• Loan amounts as per your need
• Flexible repayments periods
• Responsive grace period
• Unique crop, livestock insurance and credit life cover
• Training and advisory services on productions and market links
• Timely loan processing
12. MOBILE/ DIGITAL LOANS
Mobile loan: from Ksh. 1,000.
Eligibility requirements
Must be aged 18+ years
Have a valid registered SIM card and has been on use for at least 90 days.
Have a registered mobile money account e.g. Mpesa, Airtel Money, TKASH
Smartphone: Required for App users
Good CRB standing for higher limits
Valid National ID card
Benefits
• Convenience – instant loan via mobile phone
• No guarantee required
• Interest; Very competitive with no hidden charges
• Real-time loan disbursement – so you will not miss the business opportunity
• Security – your money will be secure even if you lose your sim card
• Repayment terms – up to 1 month
• Competitive pricing – no hidden charges
• Loan limit can grow fast with good repayment history
• Existing clients enjoy higher loan limits
Disbursement; You will receive the full loan amount applied for.
Loan repayment can be made monthly, any time after disbursement but not later than 30 days from date of disbursement.
13. HOLIDAY/ WEEKEND LOANS
At Jijenge Credit Ltd, we provide loans to our loyal customers of up to Ksh 100,000 in 2 hours to finance their weekend/holiday needs.
Requirements
The loan is open to our members who have been loyal customers. These loans are affordable as they are offered with low interest rates.
14. GROUP/ WOMEN/ CHAMA LOANS
Chamas are investment groups created and driven by people who share a common interest. This product targets such group members running successful micro enterprises through their pooled resources.
Loan requirements
• Group bank statements for last 6 months
• A fully filled application form
• Minutes listing all members with members’ signatures authorizing the officials for loan application
• The purpose of the loan must be within the group’s constitution.
• Form committing the officials.
• Group constitution.
• Group registration certificate
• Copies of national I.D. for group officials and the group members.
• Pass port photograph for group officials.
• KRA pin for each group official.
• Home address for each group member.
• Each group must have 4 signatories to the account who are 3 group officials and one group member.
15. WATER PRODUCTS LOAN
Water products targets to meet all water and sanitation needs for all clients. Safely managed water, sanitation, and hygiene (wash) services are an essential part of preventing and protecting human health during infectious disease outbreaks. One of the most cost-effective strategies for increasing pandemic preparedness, especially in resource-constrained settings, is investing in core public health infrastructure, including water and sanitation systems.
Through wash products, Jijenge Credit Ltd chips in to offer financial support to its clients into acquisition of:
• Borehole sinking
• Water tanks
• Piping
• Iron sheet for roofing and gutters
• Distribution/transportation of the packaged water
• Water tankers/transport of clean water
• Construction of water kiosk
• Construction of septic tanks
• Exhausters-collection, emptying and transport
• Treatment & processing of the sewer
• Drip irrigation system installation
16. SME/ BUSINESS LOANS
Loans available to business people. This loan focuses on people with existing business looking to scale up their businesses.
Business loan is specially designed for micro-businesses that require funds to expand their existing business line(s) profitably. The product gives you access to financing of up-to Kshs. 5 million with eligibility to top-up existing loans making use of flexible collaterals and enjoying flexible repayment periods of up to 24 months.
Features
• Borrow flexible amounts ranging from Kshs. 5,000 to Kshs. 8 million
• Flexible repayment period of up-to 12 months
• Eligibility to top-up existing loans
• Flexible security requirements
• Affordable with no hidden charges
• flexible and reasonable loan repayment period
• Fast loan processing
Requirements
We shall generally require that you support your application for a loan with the following documents:
For Sole Proprietors and Partnerships:
• Certificate of registration for the business
• National Identification Card (ID) for Kenyan Citizens and a passport for non-citizens
• 2 Passport size photograph
• Residential Address confirmation for all signatories if a partnership
• The businesses or partnerships physical address confirmation
• Kenya Revenue Authority (KRA) PIN
• Certified bank statements for at least six months (6 months)
• Business records
• Business license
17. GREEN ENERGY LOANS
Green energy loans are intended for customers seeking financing for eco-friendly products that use energy generated from natural resources that are renewable (naturally replenished).
Green energy is actually a subset of renewables, representing the most environmentally beneficial resources. Products under this loans includes:
• Purchase of electric car
• Purchase of LPG propelled cars
• Financing for installation of LPG systems in the normal cars from petrol/ diesel
• Solar panel purchase and installation
• Wind energy harvesting system
• Biogas system installation
• Biomass energy
• Low-impact hydropower
Renewable energy sources not considered green include:
• Large-scale hydropower
• Energy from burning solid waste
All Green energy loan products are insured
18. EDUCATIONAL LOANS
If you have a salary income or have another form of collateral, then you’re eligible for an Education Loan. Get funding for educational undertaking and pay it back comfortably over a period of 24 months.
• Get repayment periods that match your needs up to 24 months (2 years)
• Access loans of amounts between Kes 50,000 and Kshs 4 million
• Quick loan processing on provision of all requirements
Requirements:
• Employee or retired with regular pay or a defined income stream.
• Certified bank statements for about six months
• Valid Kenyan ID or passport
• Latest 6 months Original/ certified Pay slips
• Proof of income if self-employed
• Admission letter from the university/college
• A minimum of 3 months with the same employer (for employees)
• A valid employment contract.
• A letter of undertaking from the employer
• Credit will be disbursed to the school/ institution account
19. SCHOOL/ INSTITUTION BUS LOANS
School bus loan is becoming the most popular asset finance facility in Kenya. Most lending institutions take advantage of the steady transition from hiring buses to owning buses. Nowadays, its old school for a school for a learning institution to lack a bus.
Jijenge Credit Limited offers an asset finance facility which is wide. It covers both individuals and corporates. Individuals can finance purchase of motor vehicles e.g., Matatu, cars and tractors or any moveable assets. Corporates can finance the purchase of staff cars, distributor vehicles or school buses. The school bus loan is available to both existing and non-existing clients of Jijenge Credit Ltd. It’s for financing the purchase of new buses but not repair.
Requirements.
For school to qualify for this loan, the following must be in place;
all accounts.
• Provide a copy of ID and PIN of office officials. I.e., head teacher or BOG chairman.
• Provide a school PIN
• A copy of certificate of registration will be required
• BOG minutes of meetings with;
• The authority to borrow
• All collection of parent’s contribution
• Total number of students
• PTA minutes authorizing the bus project
• Letter from ministry of education authorizing borrowing and levying of funds for school bus project.
Benefits.
Jijenge Credit Limited has a lot of advantage to be enjoyed by its loanees as compared to other lenders. These are;
• Faster and easy loan processing within a time period of 1 hour.
• There are no hidden charges.
• Low interest rate
• Flexible repayment period of up to 24 months, paid quarterly
• This loan is available to even non account holders
20. YOUTH / STARTUP LOANS
This product targets such group members running successful micro enterprises through their pooled resources.
We shall generally require that you support your application for a loan with the following documents:
For Sole Proprietors and Partnerships:
• Certificate of registration for the business
• National Identification Card (ID) for Kenyan Citizens and a passport for non-citizens
• 2 Passport size photograph
• Residential Address confirmation for all signatories if a partnership
• The businesses or partnerships physical address confirmation
• Kenya Revenue Authority (KRA) PIN
• Certified bank statements for at least six months (6 months)
• Business records
• Business license
For Youth Groups Loan requirements are;
• Group bank statements for last 6 months
• A fully filled application form
• Minutes listing all members with members’ signatures authorizing the officials for loan application
• The purpose of the loan must be within the group’s constitution.
• Form committing the officials.
• Group constitution.
• Group registration certificate
• Copies of national I.D. for group officials and the group members.
• Pass port photograph for group officials.
• KRA pin for each group official.
• Home address for each group member.
• Each group must have 4 signatories to the account who are 3 group officials and one group member.
THE MAIN BUSINESS VENTURES CONCIDERED FOR THIS LOAN ARE:
• Agricultural production-horticulture
• Livestock trading or fattening
• Fish farming
• Poultry (broiler) projects
• Supplies (specific)
Tangible collateral such as title deed or logbook is required for all loan products
Working Hours
| Monday |
8:00AM - 6:00PM |
| Tuesday |
8:00AM - 6:00PM |
| Wednesday |
8:00AM - 6:00PM |
| Thursday |
8:00AM - 6:00PM Open |
| Friday |
8:00AM - 6:00PM |
| Saturday |
8:00AM - 2:00PM |
| Sunday |
- Closed |
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