Restructure responsibly

Loan Refinancing

A refinancing option where proceeds from a new approved loan are used to clear an existing loan.

Features

Product details

  1. 1New loan proceeds clear the existing facility first.
  2. 2Subject to appraisal, guarantees, and current loan status.
  3. 3Useful where members need a fresh repayment structure.

How to apply

Simple loan procedure

  1. 01Fill in the loan application form.
  2. 02Return the form for appraisal and approval.
  3. 03Pay the loan insurance fund of 1% of the approved loan.
  4. 04Collect the cheque or wait for a bank transfer.
  5. 05Begin repayment promptly after the one-month grace period.
Member loan application

Mode of payments

Member remittance channels

Caritas Micro Finance Bank

Cardinal Otunga Plaza

1002025000001

Cooperative Bank

City Hall Annex Branch

01100092802700

M-Pesa Paybill

Paybill No. 8998990

Use account format 128258#IDNUMBER plus the product code where applicable.