ECLOF Kenya is a microfinance lending institution which has been mandated by law and in accordance to their policies and regulations on loaning and lending out money. The credit options being offered by the firm mainly encompass services and activities that deal with business empowerment which aim at promoting business growth and development in the society, also the values and at the same time staying committed to Christian values and upgrading their living standard. The firm has been registered and approved in accordance to the Companies act. In addition, it is a subsidiary of ECLOF International which is based at Geneva Switzerland.
For one to qualify for the ECLOF Loans they need to have a copy of their national Identity card and a clean record with the Credit Reference bureau to ensure that they have paid up all their loans and credit. One has to open an account with the microfinance institution and show that they have the ability of paying back the loans, in the case of agriloans, an assessor has to assess the viability and potential of the business before the money is presented. In the case of a business loan, one has to show through records the profits and performance of the company to highlight the success and need for the money.
ECLOF has a number of services under their docket which are bound to meet the diverse needs of the business market and also see the company make profits out of their investments. Some of the products being offered include business loans, the aim of these loans is to ensure that the borrower is in a position to borrow the money for their business this includes either for expansion or for acquiring new equipment or either for restructuring.
In addition to that, there are agribusiness loans, due to the economy nature of Kenya, most of the citizens rely heavily on agriculture and its subsistence to cater for their needs and also to improve their livelihoods. In that case agribusiness loans are very essential in ensuring that farming is carried in good time and before the rains die down.
Higher education loans are also being offered by ECLOF Kenya, due to the high standards and requirements being placed on the employees and the high rate of employment, there has been a surge to raise the quality of education. These have seen the firm advance higher education loans to its customers at fair rates.
ECLOF Afya loans are offered to cater for the medical needs of the people, especially due to the high costs of good medical care and also due to the low quality of services being offered in public medical facilities. In this case the company has been able to increase the number of products to cater for it members in terms of medical bills ranging from both in-patient and outpatient.
Other credit services being offered by ECLOF Kenya include emergency loans for urgent needs and also due to personal needs that need to be addressed, in addition to that there is the aspect of having to lead a dignified life which at times is full of surprises. Also there are Burudika loans for those who want to travel and for holidays.
Advantages of borrowing with ECLOF Kenya;
Disadvantages of borrowing with ECLOF;