AEC’s entrepreneur clients in East Africa can use this app to manage affordable loans and Sharia finance products for their business.
About the app: Currently, this AEC loan app is available Swahili, Kinyarwanda, Somali, Arabic, English, and French. It can be used to apply for loan funding, and check the status of the application. New features will be developed to continue to provide information to clients about their repayment status and to communicate with AEC loan officers.
Users of the app: This app is exclusively for current or former clients of AEC or Inkomoko in Rwanda, Kenya, and Ethiopia.
Loan Features:
– Product types: business loans, or Sharia compliant business financing
– Maximum Annual Percentage Rate (APR): 10% APR
– Minimum repayment period: 60 days
– Maximum repayment period: 2 years
– Repayment terms: negotiable, including grace periods; and/or monthly, quarterly, and annual repayment options.
– Fees to apply: none
You can learn more about loan apps in Kenya on this website
