List Of Pioneer Credit Loan Products In Kenya

This page focuses on Pioneer Credit loan products in Kenya. Pioneer Credit is a microfinance institution that does not accept deposits and has been in business since March 2018. Its headquarters are at Sharp Center on Wambui Road in Muthaiga.

This article explores a list of Pioneer credit Loan products offered, highlighting the features, requirements, and repayment terms.

List Of Pioneer Credit Loan Products

1. Civil Servants Check Off Loan

This product is aimed at civil servants and county government workers. Using your payslip, you can obtain loans ranging from Ksh 5,000 to Ksh 1,000,000. The loan can be repaid over a period of up to 24 months. It is paid out within 24 hours of a successful application.

Requirements

  • Must be a Civil Servant.
  • Your Employer has to be registered for Pioneer Check-off Scheme.
  • Clear certified copy of National ID/Valid passport.
  • Certified Bank statement.
  • 3 latest pay slips.
  • 1/3 labor rule

2. Boda Boda Loan

Pioneer Credit will finance up to 80% of the cost of a motorcycle from a designated dealer. The customer pays 20% of the total cost.

Requirements
  • Deposit 20% of the bike value.
  • Copy of Identification card (I.D).
  • Copy of Driving license.
  • Copy of KRA pin certificate.
  • Certified Mpesa statement for the past 3 months.
  • 3 guarantors.

3. Logbook Loan

They lend from Ksh 100,000 to a maximum of 60% of the car’s worth.

Requirements

  • 3 Month’s Certified Mpesa Statement
  • 6 Month’s Bank Statement.
  • Original logbook.
  • Copy of National ID.
  • Copy of KRA PIN.
  • Logbook Search Fee KES 1,200
  • Proof of Comprehensive Insurance.
  • One Passport Photo.
  • Valuation Fee KES 3,000

4. Invoice Discounting Loan

Pioneer Credit provides financing solutions for issued bills while you wait for payment. Within 24 hours, you can receive a cash advance of up to 80% of the invoice value.

Requirements

  • Copy of certificate of incorporation.
  • Copy of CR12.
  • Copy of Company Pin.
  • Copy of Tax Compliance Certificate.
  • Copy of Director’s PIN.
  • Audited Accounts (for the past 3 years).
  • Certified Bank Account Statements (6 months).
  • Company Profile.
  • Current Debtor Ageing Report (for the client company).
  • Current Creditors Report (for the client company).
  • Current Creditor Ageing report (for each proposed factoring customer).
  • 3 sample invoices (for each proposed customer in the past 12 months).

Read also, List Of Uwezo Fund Loan Products In Kenya

5. PioneerCASH Loans

This is a mobile phone-based product designed specifically for civil servants. It allows you to check off debts ranging from Ksh 1,000 to Ksh 50,000 by dialing the *454# USSD code. The loans must be repaid within three months.

Features

  • No paperwork.
  • Disbursement is real-time.
  • Funds received on the phone via MPESA
  • Loan repayment is collected from the employer through the payroll.

Requirements

  • MOU with your employer.
  • Borrowing capacity on a pay slip, the amount borrowed should not be beyond 1/3 of
    the basic salary

6. Agri-Business Finance

This is a loan product that targets small-scale farmers, aggregators, and other players in the agri-business sector.

Features

  • Loan amount of up to Kes 1,000,000 based on your need.
  • Flexible repayment period.
  • Quick loan processing.
  • Financial training and market links.

Requirements

  • Comprehensive analysis of the agricultural project’s predicted earnings and costs, such as seeds, animal procurement, herbicides, pesticides, harvesting, and labor.
  • A comparative investigation of the neighborhood to determine the type of farming carried out, the projected yield, and the suitability of the farming activity carried out by the customer.
  • 12 months of bank statements or Mpesa statements.
  • Documentary proof of ownership of the farm to be used for production or a valid leasing agreement spanning at least one future production cycle is required.
  • Provide documentation demonstrating at least three years of experience in the field.
  • Excellent credit history.
  • For small businesses Debenture is secured by the asset being purchased.
  • Crop and livestock insurance.

KYC Documents

  • Individual agribusiness owners must have an ID and a PIN.
  • Passport photos that have been colored.
  • Directors’