Access cheque discounting in Kenya for up to 90% (KES 7M)!
Unlock seamless cash flow with our Cheque Discounting Facility, tailored for SMEs, individual traders, and sole proprietors awaiting invoice payments. Keep your business running smoothly with financing limits from KES 100,000 to KES 7,000,000.
Check Qualification
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3-Step process to guarantee your business continuity. Pay back in 60 days.
As part of receivable-based financing products, our cheque discounting facility is a flexible solution to guarantee your business success.
- 1
Check Qualification Online
Use our simple online form to verify qualification for financing. Takes less than 3 minutes to finish.
- 2
Meet with our representative
Once you are prequalified, a representative will schedule an appointment and review your KYC documents so you make your application.
- 3
Funds Deposited
Once your application is reviewed and approved, the funds will be deposited to your account to keep your business on track.
What else should you know about our cheque discounting service?
Our Limit Maintenance
- For New Customers and New Procuring Entity – Limit will be available for 6 months then renewed for 6 months. Thereafter, the limit will be renewed annually upon which fresh bank statements will be submitted.
- For New Customer and Existing Procuring Entity – Limit will be available for 6 months then renewed for 6 months. Thereafter, the limit will be renewed annually upon which fresh appraisal will be carried out.
- For Existing Customer and Existing Procuring Entity – Limit will be available 12 months and thereafter be renewed annually upon which fresh appraisal will be carried out.
- For Existing Customer/ New Procuring Entity – The credit Limit will be available 12 months and thereafter be renewed annually upon which fresh bank statements will be submitted.
What Application Documents Are Required?
- Duly filled application form
- Copy of National ID/ Passport
- Copy of MemArts / CR1 & CR2
- Copy of certificate of Incorporation
- Copy of the PIN Certificate of company and directors.
- Copy of Trading License/ Copy of utility bills (Electricity or water).
- 2 Passports size photo.
- Bank /M-Pesa statements for last 6 months
- Company profile (when available)
- Management books Accounts (when available)
What Discount Rates Applies?
- 90% (Balance to be wired to the customer upon successfully banking the cheque)
- Exceptional higher or lower discount rate may be considered subject to risk profile of drawer in case it is Procuring Entity already approved by DCL
How Long is the Repayment Period?
Our cheque discounting in Kenya service is accessible for a maximum of sixty/60 days.
What Qualification Criteria Applies?
- The Business must have operated for at least 1 year
- For individual customers minimum age of 21 years
- Has banked with current bankers for at least 6 months.
- Maximum three unpaid items in the last 6 months
- Maximum two excess drawings in the last 6 months
- No past due LCs, loan or interest arrears in the last 6 months
- Regular and consistent credits in the account for last 3 months. Credit turnover should not show declining trend.
- The business should not be in prohibited list as defined in Credit Policy
- Client must have received payments from the drawer of the cheque not less than three times, this should also reflect in the statements provided
