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Faulu Microfinance Bank Limited

Types of Faulu Kenya Loans, Faulu Microfinance Bank Limited, FAULU BRANCH MANAGERS’ CONTACT LIST, Faulu Kenya Contacts and Locations

May 18, 2021
in Wealth
Reading Time: 11 mins read
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Faulu Microfinance Bank Limited, commonly referred to as Faulu Kenya, is a microfinance bank based in Kenya. It is regulated by the Central Bank of Kenya. The word Faulu is Swahili for success. Types of Faulu Kenya Loans

Faulu Microfinance Bank Limited
Faulu Microfinance Bank Limited Logo.jpg
Type Private Subsidiary
Industry Banking and Finance
Founded 1991
Headquarters Nairobi, Kenya
Key people
Apollo N. Njoroge
Managing Director
Dr. Peter W. Muthoka
Chairman
Products Loans Micro-Insurance
Parent Old Mutual
Website www.faulukenya.com

History of Faulu Microfinance Bank Limited

Faulu Microfinance Bank is a limited liability company duly incorporated in Kenya under the Companies Act. The company changed its name to Faulu Kenya Deposit Taking Microfinance (DTM) Limited in 2008 as part of the requirements to obtain the Deposit-Taking Licence from the Central Bank of Kenya. In May 2009, Faulu became the first registered DTM in Kenya under the Micro-Finance Act and is regulated by the CBK. The bank has grown from one MFI office in 1991 to over 90 service outlets which include 27 banking branches in seven of the eight provinces in Kenya by end of 2011.

In April 2014, Old Mutual completed its acquisition of 67% of Faulu Kenya through a KSH 2.8 billion capital injection. The acquisition gave Old Mutual a greater market reach through the Faulu Kenya branches across Kenya and gave Faulu Kenya greater capital to meet statutory requirements.

Ownership of Faulu Microfinance Bank Limited

The stock of Faulu Kenya is privately held with Old Mutual being the largest shareholder with 67% of the issued capital.

From its humble roots as a loan scheme in 1991, Faulu is currently one of the top Micro Finance Banks in Kenya and has successfully developed a platform aimed at banking the previously unbanked through a variety of savings, credit, micro-insurance, and mobile banking solutions.

  1. RETAIL/CONSUMER LOANS
  2. MICRO LOANS
  3. SME/BUSINESS LOANS

Faulu Kenya Loans

In this article, we are going to look at different types of Faulu Kenya loans. But before we do that, you need to know that Faulu Microfinance Bank limited, popularly known to many as Faulu Kenya, is one of the leading microfinance banks in Kenya.

Microfinance was founded in 1991 and is regulated by the Central Bank of Kenya.

Faulu Kenya also offers loans and today we are going to take a look at them.

Different Types of Faulu Kenya Loans

Retail/Consumer Loans

1. Check-off Loans

This type of loan is for TSC, people who have end month salaries, Civil servants and Parastatals among other selected corporates.

Features and Benefits
  • The minimum loan amount one can borrow is Ksh. 10,000 and maximum Ksh. 3,000,000.
  • The loan repayment period is up to 7 years (84 months).
  • The top-up feature is available.

2. Corporate Checkoff Loan

Enjoy salary-backed credit facilities with terms of engagement dictated by a scheme arrangement between Faulu and your institution.

Features and Benefits
  • The minimum loan amount one can borrow is Ksh. 10,000 and maximum Ksh. 3,000,000.
  • The loan repayment period is up to 7 years (84 months).

3. Tambara Imara Loan

This type of loan is given to people who have a salary and are working with institutions or organizations where Faulu Kenya has not signed an MOU with them. Eg: NGOs, Local and International Agencies among others.

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Features and Benefits
  • The loan repayment plan is very flexible. Pricing is affordable.

4. Okoa Mteja Temporary Overdraft Loan

This type of loan is given to people who need short-term emergency loans.

Features and Benefits
  • Net salary is 30%.
  • The loan repayment plan is very flexible.
  • Security is not needed.
  • Processing of loans is instant.
  • One lump sum repayment

SME/Business Loan

5. Biashara SME Loan

This type of loan is given to entrepreneurs who want to grow or expand their businesses.

Features and Benefits
  • Working Capital/Business Loans
  • Financing of trade
  • Access to top-up feature.

6. Asset Finance Loan

This type of loan is given to members who want to purchase a business or personal assets such as personal vehicles. It also entails financing of an Insurance premium that is affordable.

Features and Benefits
  • Support SMEs and Individuals purchase assets.
  • Loan amount of upto Ksh. 100 million.
  • Tenure of upto 5 years (60 months).
  • Turnaround time is quick.

7. Insurance Premium Financing Loan

This type of loan is given to individuals and SMEs to finance their Insurance Premiums with well-known Insurance companies.

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Features and Benefits
  • The minimum loan amount is Ksh. 3,000 and maximum Ksh. 500,000.
  • 10 months tenure.

8. Faulu Landlord Loan

This type of loan is given to landlords who want to develop their property or expand.

Features and Benefits
  • Loan repayment term is flexible.
  • It is given to Landlords who have properties that are well developed with stable rental income.

9. Ushirika Loan

This type of loan is for projects that are developed and also procurement of assets for both registered groups and churches.

Features and Benefits
  • Minimum loan amount is Ksh. 50,000 and maximum Ksh. 20 million.
  • 2 months is the grace period.

Micro Loans

10. Group Business Loan

This type of loan is given to self-help groups to expand and improve their businesses or hustles.

Features and Benefits
  • Collateral options are very flexible.
  • Smooth gain to multiple loans.
  • The minimum loan amount is Ksh. 5,000 and maximum Ksh. 500,000.
  • Minimum of 3 to 24 months tenure.

11. Micro Loan

This type of loan is given to small businesses and entrepreneurs suitable for LPO financing, working capital, and business emergencies.

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Features and Benefits
  • Refinancing is available subject to appraisal when the existing loan is 75% paid from the 2nd Loan cycle
  • Upon top-up you will get an interest waiver.
  • The minimum loan amount is Ksh. 1 million and maximum Ksh. 3 million.
  • Minimum of 18 to 36 months tenure.

12. Chama Loan

This type of loan is given to formal and informal investment groups, popularly known to many as Chamas.

Features and Benefits
  • Individual loans can be given to members.
  • The minimum loan amount is Ksh. 500,000 and maximum Ksh. 300 million.
  • Tenure of up to 6 years.

13. Nafaka Loan

This type of loan is for to members to facilitate trading in cash crops such as wheat, maize, and sorghum.

Features and Benefits

The minimum loan amount is Ksh. 5,000 and maximum Ksh. 3 million.
Tenure of up to 3 to 12 months.
Repayment terms are very flexible.

14. Maziwa Loan

This type of loan is given to members who are farmers and want to purchase dairy cows that will give them milk and also improve farming.

Features and Benefits
  • Repayment terms are flexible based on the milk remittance cycle.
  • Loan amount of up to 3 million.
  • Tenure of up to 3 years.

15. Green Gold Loan

This type of loan is given to tea farmers for their financial needs.

Features and Benefits
  • Tea farmers can access loans up to 75% of the value of tea bonus obtained for the past 3 years.
  • Repayment of the loan is flexible.
  • Loan amount of up to Ksh. 500,000.
  • Tenure of up to 12 months.

16. Pesa Chap Chap Loan

This type of loan is given to Faulu Kenya self-help group clients to meet their short term emergency finance covered phone-based loan.

Features and Benefits
  • Disbursement of loan on phone is instant.
  • The minimum loan amount is Ksh. 300 and maximum Ksh. 10,000.

Faulu Kenya Contacts and Locations

Head Office Address : Off Ngong Road, Along Ngong Lane

P.O. Box: 60240 – 00200, NAIROBI.

E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Contact Centre: 0711 074 074, 0711 074 000

(Our Contact Centre is accessible 24/7)

Email: info@faulukenya.com
Phone number: +254 711 074 000 or +254 711 074 074

FAULU BRANCH MANAGERS’ CONTACT LIST

BRANCH NAME  PHONE NUMBER 
Bomet 711074831
Bungoma  711074721
Busia 711074970
Changamwe  711074789
Eldoret  711074701
Embu  711074620
Gikomba 711074792
Githurai  711074590
Homabay 711074980
Jeevanjee 711074785
Kabarnet  711074741
Kakamega 711074902
Kapenguria 711074940
Karatina 711074685
Kariobangi  711074540
Kawangware  711074604
Kayole  711074550
Kiambu  711074570
Kengeleni 711074761
Kibera  711074560
Kilifi  711074755
Kimathi St. 711074510
Kiserian 711074520
Kisumu  711074715
Kitale  711074745
Kitengela  711074580
Kitui 711074810
Limuru 711074960
Litein 711074726
Machakos  711074675
Malindi  711074765
Matuu  711074661
Maua  711074665
Meru  711074640
Migori  711074735
Moi Av. Mombasa 711074751
Molo  711074695
Mumias  711074711
Murang’a  711074681
Mwea  711074671
Mwingi 711074911
Naivasha  711074651
Nakuru  711074655
Nanyuki  711074645
Narok  711074731
Ngong Road 711074500
Nyahururu  711074781
Nyeri  711074630
OTC  711074530
Rongai 711074691
Thika  711074610
Ugunja 711074920
Ukunda 711074771
Voi 711074950

External links

  • Official website Edit this at Wikidata
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