Springboard Capital offers a wide array of tailored loans to empower individuals and businesses alike. In this article, we explore the financial solutions provided by Springboard Capital, uncovering their most popular loan products in Kenya.
This article will also shed light on the advantages of Springboard Capital business loans, asset finance, emergency loans, import duty financing, salary loans and school fees loans. Finally, we have an updated list of all the Springboard Capital branches in Kenya.
Top 5 Loans at Springboard Capital
Below is a list of the 5 most popular loans available at Springboard Capital:
+ Ksh 100,000 to Ksh 2Million
+ Flexible Tenure up to 1 Year
+ Interest 3.5% Reducing Rate
+ Application fee Ksh 1,500
+ Loan Processing Fee 3%
+ Loan up to Ksh 2 Million
+ Repayment in 12 Months
+ Asset serves as Security
+ Interest 3.5% Reducing
+ Loan Processing Fee 3%
+ Interest charged at 3.5%
+ Only for Existing Clients
+ Loan Processing Fee 3%
+ Application fee Ksh 1,500
+ Tenure 3 to 24 months
+ Interest 3.5% per month
+ Paid directly to KRA & KPA
+ 100% Import Duty Financing
+ 12 months installments
+ Interest 3.5% per month
+ Local & International Schools
+ Available within 48 hours
+ Free bankers cheque
Springboard Capital Advantages
Below are some key advantages of choosing Springboard Capital for your financial needs:
- Flexibility: Springboard Capital offers various loan products with customizable repayment terms, allowing you to make choices that align with your cash flow and business requirements.
- Competitive Interest Rates: Borrowers can benefit from competitive interest rates offered by Springboard Capital. These rates help keep borrowing costs manageable and enable businesses to make affordable loan repayments.
- Fast Processing: Springboard Capital understands the importance of timely access to funds for businesses. They prioritize fast processing of loan applications, ensuring that borrowers can receive the funds they need within a short turnaround time.
- Free Business Advice: In addition to financial assistance, Springboard Capital offers free business advice to borrowers. Their expert team can provide guidance and insights on various aspects of business management, helping borrowers make informed decisions and improve their business operations.
- Emergency Loans and School Fees Loans: Springboard Capital provides the flexibility to access emergency loans or quick cash, allowing borrowers to address urgent financial requirements. Additionally, the availability of School Fees Loans can be beneficial for borrowers who need to cover educational expenses during the loan term.
- Transparent Fee Structure: Springboard Capital maintains transparency in its fee structure. They clearly outline the applicable fees, including application fees, loan processing fees, and credit life insurance charges, ensuring that borrowers have a clear understanding of the associated costs.
- Personalized Service: Springboard Capital aims to provide personalized service to its borrowers. They take the time to understand each borrower’s unique situation and financial needs, tailoring their loan solutions accordingly. This personalized approach helps foster a strong borrower-lender relationship and ensures that borrowers receive the support they require.
Overall, Springboard Capital offers a range of benefits, including flexibility, competitive rates, fast processing, free business advice, and access to emergency and school fees loans.
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Here is an overview of the Business Loans offered by Springboard Capital:
- Competitive Interest Rates: Enjoy competitive interest rates on your Business Loan from Springboard Capital, ensuring that you can access the required financing at favorable terms.
- Free Business Advice: Springboard Capital goes beyond just providing loans by offering free business advice. Benefit from their expertise and guidance to make informed decisions and enhance your business operations.
- Fast Processing: Springboard Capital understands the importance of quick access to funds. Their Business Loans feature fast processing times, allowing you to receive the funds promptly and address your business requirements without delay.
- Flexible Repayment Period: Enjoy the flexibility of choosing a repayment period that suits your business’s financial capabilities. Springboard Capital offers repayment periods of up to 1 year, enabling you to manage your loan repayments in a manner that aligns with your cash flow.
- Access to Emergency Loans: During the repayment period of your Business Loan, Springboard Capital provides the flexibility to access emergency loans or quick cash if you require immediate funds. Additionally, you can also access a School Fees Loan to fulfill educational expenses during the repayment period.
- Loan Rates and Fees: Springboard Capital offers Business Loans at an interest rate of 3.5% on a reducing balance basis. In addition, there is an application fee of KES 1500 and a loan processing fee of 3% for loans with a repayment period of up to 12 months. Credit life insurance is also applicable, amounting to 1.5% of the loan amount.
- Requirements: To apply for a Business Loan with Springboard Capital, the following requirements are necessary:
- Copies of your national ID and KRA PIN.
- Six months of bank statements and/or M-PESA statements.
- Business Records of purchases, sales and utility payments.
- Copy of the national ID and KRA PIN of the guarantor.
- 2 Passport-Sized Photos
- Copy of logbook or title deed as collateral.
- Business Trading License.
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Here is an overview of the Asset Finance Loans provided by Springboard Capital:
- Flexible Repayment Period: Springboard Capital offers a flexible repayment period for their Asset Finance Loans. This allows borrowers to choose a repayment term that suits their business requirements and cash flow capabilities.
- Competitive Interest Rate: Enjoy a low interest rate on a reducing balance basis for your Asset Finance Loan. Springboard Capital ensures that borrowers can access financing at favorable interest rates, reducing the overall cost of borrowing.
- Fast Processing: Springboard Capital prioritizes fast processing of loan applications to ensure that borrowers can acquire their desired assets promptly. Their streamlined processes enable quick approval and disbursement of funds, allowing businesses to seize opportunities without delays.
- Free Financial Advice: As a value-added service, Springboard Capital provides free financial advice to borrowers. Their experienced team can offer insights and guidance on financial management, helping borrowers make informed decisions and optimize their asset financing.
- Access to Emergency Loans: During the repayment period of the Asset Finance Loan, Springboard Capital provides additional loan facilities. Borrowers can access emergency loans, quick cash loans, and even school fees loans, providing financial flexibility and addressing unforeseen needs that may arise.
- Mobile Loan Access: Springboard Capital offers mobile loan access to borrowers. They allow borrowers to access up to 75% of their monthly installment through this facility, providing extra financial support when required.
- Interest Rate: The interest charged on Asset Financing loans is calculated at a rate of 3.5% on a reducing balance basis. This means that the interest is calculated based on the outstanding loan balance, which decreases as the borrower makes repayments over time.
- Application Fee: Springboard Capital imposes an application fee of KES 1500. This fee is typically charged when submitting a loan application and covers administrative costs related to processing the application.
- Loan Processing Fee: For loans with a repayment period of up to 12 months, Springboard Capital charges a loan processing fee of 3%. This fee is calculated as a percentage of the loan amount and covers the costs associated with processing and disbursing the loan.
- Credit Life Insurance: Springboard Capital requires borrowers to obtain credit life insurance for Asset Financing loans. The cost of credit life insurance is typically 1.5% of the loan amount. This insurance provides coverage in the event of unforeseen circumstances, such as disability, critical illness, or death, ensuring that the loan will be repaid even under adverse circumstances.
- Requirements: To apply for an Asset Finance Loan with Springboard Capital, the following requirements are necessary:
- Copies of your ID and KRA PIN.
- 6 months of bank statements and/or M-PESA statements.
- Business Records of purchases, sales, and utilities for traders or pay slips and appointment letters for employees.
- 2 Passport-Sized Photos.
- Proforma Invoice and Sales Agreement for the proposed asset.
- Copy of Logbook as collateral for the loan.
- Current Valuation Report for the proposed asset from a service provider in Springboard Capital’s panel.
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- Eligibility: To qualify for an Emergency Loan, clients must have serviced their existing facility for a minimum of three months without any arrears.
- Processing Time: One of the key benefits of these loans is the quick processing time. Springboard Capital guarantees that the loan application will be processed within 24 hours, ensuring that clients receive the funds they need in a timely manner.
- Boost your Credit History: Taking out an Emergency Loan with Springboard Capital can also have a positive impact on the client’s credit history. By demonstrating responsible repayment behavior, clients can improve their creditworthiness and increase their chances of obtaining favorable loan terms in the future.
- Competitive Interest Rates: The Emergency Loans offered by Springboard Capital come with a flat interest rate of 3%. This rate remains consistent throughout the loan tenure, making it easier for clients to manage their repayment obligations.
- Loan Limit: Clients can borrow up to Ksh. 80,000 through the Emergency Loan program. This borrowing limit allows individuals to address their emergency needs without burdening themselves with excessive debt.
- Other Loan Fees: There are a few fees associated with the Emergency Loan. Firstly, there is an application fee of Ksh 1500, which is payable at the time of applying for the loan. Additionally, there is a loan processing fee of 3% charged over a maximum period of 12 months. This fee covers the administrative costs of processing the loan. Lastly, clients are required to pay a credit life insurance premium of 1.5% of the loan amount. This insurance provides protection to the client and their family in the event of unforeseen circumstances that prevent them from repaying the loan.
In summary, Springboard Capital’s Emergency Loans are available exclusively to clients with existing loans. These loans offer quick processing, a flat interest rate of 3%, a borrowing limit of up to Ksh. 80,000, and the opportunity to improve credit history.
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Import Duty Financing
Here is an overview of the import duty financing provided by Springboard Capital:
- Loan Limits: There are no specific maximum or minimum amounts set for the Import Duty Financing, allowing flexibility based on the importer’s requirements.
- Loan Term: The repayment period for the financing is within a maximum of 24 months, providing importers with a reasonable timeframe to settle the financing. The minimum repayment period is three months, enabling importers to have a short-term repayment option if desired.
- Interest Rates: The interest rate for the IDF is 3.5% per month, calculated on a reducing balance basis, ensuring that importers pay interest only on the outstanding amount.
- Port Agents Access: Access to experienced and trusted port agents provided by Springboard Capital, who can assist with various aspects of the importing process.
- Transport: Facilitated transportation of goods from the port to the final destination, ensuring a smooth and efficient delivery process.
- 100% Financing: Springboard Capital offers 100% Import Duty Financing, covering the entire import duty amount required.
- Fast Clearance: Springboard Capital offers faster clearance of imported goods, reducing delays and enabling importers to have their goods available for sale or distribution more quickly.
- Requirements: To apply for import financing from Springboard Capital, the following requirements are necessary:
- Copies of their ID and PIN
- Six months’ worth of bank statements and/or M-Pesa statements for the importer.
- Business records, such as purchase and sales records, utility bills for traders, and pay slips and appointment letters for employees.
- Two passport-size photos of the applicant.
- Bill of lading invoice, which serves as a document of title, acknowledging the receipt of goods for shipment.
- Export certificate, specifically the English version of the Japanese logbook, verifying the origin and details of the imported vehicle.
- Inspection certificate from Jevic, ensuring compliance with quality and safety standards.
- Import Declaration Form (IDF), a document submitted to the relevant authorities to declare the imported goods and their value.
With flexible repayment options, access to trusted port agents, and coverage of 100% import duty, importers can benefit from a streamlined process and faster clearance at Springboard Capital.
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School Fees Loans
Here is an overview of the school fees loans provided by Springboard Capital:
- Loan Limits: There are no specific maximum or minimum amounts set for the School Fees Loans, providing borrowers with the flexibility to borrow an amount that suits their specific education expenses.
- Eligibility: School Fees Loans from Springboard Capital are available to parents and guardians who are responsible for paying the school fees of their dependents and individuals who are paying for their own education expenses.
- Loan Term: The loan repayment period can extend up to 12 months, allowing borrowers to spread their repayment over a reasonable timeframe. There is no minimum repayment period, giving borrowers the option to repay the loan in a shorter duration if desired.
- Interest Rates: The interest rate for the School Fees Loans is 3.5% per month, calculated on a reducing balance basis, ensuring that borrowers pay interest only on the outstanding amount.
- Loan Disbursement: The loan amount is paid directly to the learning institution, whether it is a local or international school, ensuring that the funds are utilized for educational purposes.
- Processing Time: School Fees Loans are available within 48 hours, providing borrowers with quick access to funds to address their school tuition needs promptly.
- Lipa Pole Pole: Borrowers can clear their yearly fees through the “lipa pole pole” (pay in installments) option, enabling them to manage their education expenses in a more manageable manner.
- Free Bankers Cheque: Springboard Capital provides a free bankers’ cheque, making the payment process convenient and hassle-free for borrowers.
- Requirements: To qualify for a School Fees Loan from Springboard Capital, borrowers need to provide the following documentation:
- Copies of ID and KRA PIN
- Certified six months’ bank statements and/or M-Pesa statements.
- Proof of a source of income, such as business records or the latest month’s Payslips for employees
- Copy of the national ID and KRA PIN of the guarantors
- Two passport-size photos for the applicant, their spouses, and the guarantors (if applicable).
- Certified fee structure from the learning institution, indicating the tuition fees to be covered by the loan.
- No CRB listing is required
- Proof of schooling, such as a report form, admission letter, or student badge, confirming the borrower’s educational status.
In conclusion, Springboard Capital offers the best school fees loans in Kenya, with no specific maximum or minimum amounts, up to 12-month installments, and lipa pole pole options.
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Other Services at Springboard
There are many other financial services available at Springboard Capital, among them:
Insurance Premium Financing: Springboard Capital offers Insurance Premium Financing to help individuals pay for insurance premiums on their assets. This financing solution covers all types of insurance, including Comprehensive, Commercial, Private, and General insurance. Borrowers can access loans of up to KShs. 1,000,000 with flexible interest rates and a repayment period of up to 10 months. This enables borrowers to conveniently manage their insurance payment obligations and ensure the protection of their valuable assets.
Salary Loans: Springboard Capital provides unsecured salaried loans to employees from both the public and private sectors through a formal check-off agreement with their employing institutions. These loans offer various benefits, including fast processing within 24 hours, a flexible repayment period of up to 36 months, and the option to access mobile loans (Mobi Loan). Borrowers can receive loans of up to KShs. 400,000 with flexible interest rates. To qualify for these loans, borrowers need to provide several documents, including a copy of their ID and KRA pin certificate, employment card, employment letter, 6 months of the latest bank statements, 3 months of M-Pesa statements, and 3 latest payslips. The loan rates and fees for these salaried loans include an interest rate of 3.5% on a reducing basis, an application fee of KES 1500, a loan processing fee of 3% for up to 12 months, and a credit life insurance premium of 1.5% of the loan amount.
Insurance: In addition to their loan services, Springboard Capital provides a range of insurance options to cater to different needs. Their insurance offerings include motor insurance, which encompasses comprehensive coverage, third-party coverage, and third-party fire & theft coverage for vehicles. Springboard Capital also offers domestic insurance, which covers homes and personal belongings against risks such as fire, theft, and natural disasters. Additionally, they provide personal accident insurance, which provides coverage in the event of accidental injuries or disabilities.
Springboard Capital Branches
Nairobi Head Office
CPA Center, 3rd Floor,
Opp. Survey of Kenya, Thika Rd.
Phone: +254 111 042 700
Nairobi CBD Branch
Cargen House, Mezzanine Floor,
Harambee Avenue, Nairobi CBD.
Phone: : +254 700 000 069
Sawa House, 1st Floor,
Kwame Nkrumah Rd,
Phone:+254 700 000 027