Iman financing for Telecommunication Dealers (Iman Mteja Product)
Iman Mteja is designed to meet the financial needs of telecommunication dealers who are in good standing with Mobile Service Providers. The financing is subject to all commissions being channelled through the client's Mteja current account held with Chase Bank Kenya Ltd.
Products features:
A guarantee fee of 4% on the Guarantee amount; payable upfront.
Category A Dealers – If average residual income for the last 6 months × 12 months is equal or less than Kes 10M.
Category B Dealers – If average residual income for the last 6 months × 12 months is more than Kes 10M.
Maximum amount issued is average of the last 6 months ×12 months.
Security: 30% of the bank guarantee amount to be held in a non profit earning margin account, for category A dealers and 40% for category B dealers.
Documents required
Recent 6 months residual income statement from the service provider.
Latest 12 months certified Bank statements where the residual income is routed.
Certified copy of the dealers agreement with service provider.
Letter assigning Residual income plus Commissions to the applicant account in Chase from the service provider.
