Terms and Condition

The loan disbursement shall be provided either by Bank Deposit into the Borrowers Bank account, Mobile money account or Cash payment at STARTER FINANCE place of business.
The loan shall be available for withdrawal by the borrower at any convenient time after disbursement.

The interest rate of the loan shall be 20% for a loan payable withing one month and calculated by STARTER FINANCE loan officer from the date of credit disbursement to the day of full repayment of the credit by the borrower. For loan payable in 2 Months or more please refer to the STARTER FINANCE INTEREST SCHEDULE.

Administration/Processing fee is 10% of the principal amount and must be paid in cash, Bank transfer and Mobile money or added to the principal amount.
The borrower is obliged to repay the loan according to the attached repayment plan which forms an integral part of the agreement.
Overdue loan balance resulting from non-adherence by the borrower to the payment shall attract a maximum of 3 penalties, 30% monthly calculated on the accumulated loan balance which remains unpaid. Additionally, a maintenance fee of K100 will be charged after the 3 Penalties for three months.

Any amount paid by the borrower shall be applied first to the interest accrued and the balance thereof shall reduce the capital loan advanced. Interest shall be capitalized on monthly. I authorize STARTER FINANCE to deduct from my PMEC or Bank once I default.
Payment shall be done via PMEC, Bank transfer, Mobile money or Cash. If no deduction has been affected via PMEC, for whatever reason, the debtor must come and make a payment in cash, mobile money or bank transfer to STARTER FINANCE.

Upon making a loan repayment the borrower shall be issued with a receipt showing the repayment and this receipt must be kept safe by the borrower.
The borrower authorizes STARTER FINANCE to deduct the loan due from the borrower’s bank account or payroll (PMEC).