Short-Term and Personal Loans

As we go about our daily lives, we at times get caught up in unexpected emergencies and expenses that may go beyond our ability to handle. Banking on friends to come through for us during such times may expose us to disappointment, intrusion of our privacy and even cause us embarrassment.

Medical bills, funeral expenses, court fines, and other unexpected calamities are some of the issues that will demand we make financial provisions well in advance for that rainy day.

We may also need to make that quick holiday travel or vacation and require some money to cater for accommodation and other personal needs.

How about paying for you or your family’s school fees? Buying a car? Or need some cash to buy shares at the Nairobi Stock Exchange?

The Short-term and Personal loan is designed to meet any of the above needs and more.


  1. Ability to meet unexpected personal needs
  2. Ability to borrow more than one personal loan at any one time
  3. Qualify for a personal loan after seven days of joining and contributing to your Sacco Main Savings Account. You can contribute a lump sum into your account.
  4. You will be eligible for a short-term loan of up to five times (x5) your total Main Savings Account contributions
  5. Ability to use your U.S. information and income sources - you will be pre-qualified for the loan using Form W-2, Form 1099, U.S. bank statements, IRS tax returns and other documentation that proves your ability to repay the loan.
  6. Take and service the loan while you're still in the Diaspora
  7. Relieve your worries as you take advantage of low interest rates
  8. Borrow privately with ease - save yourself the embarrassment of borrowing from friends!
  9. Enjoy fast loan approvals

How much money will you receive?

To get a Short-term or personal loan through the Sacco, KCB Bank will finance up to a maximum of 100% of the loan amount. As a member, you can apply for up to four short-term loans at any one time.

You should have 20% of the loan amount in the Main Savings Account with the Sacco to qualify for any Short-term loan.

  1. Minimum loan amount: KES 300,000.00 - three hundred thousand. Subject to repayment ability.
  2. Maximum loan amount: Five times (x5) your member’s contribution in the Main Savings Account of the Sacco.

Interest Rates:

You will pay back the loan using the following rates:

Loans taken in USD - 8% interest rate
Loans taken in KES - 15% interest rate

The interest rates are fixed for the entire term of the loan and are charged on a reducing balance.

Loan Repayment Period:

  1. Emergencies 12 Months
  2. Holiday Loan 24 Months
  3. Schools Fees 36 Months
  4. Investment Shares/Stocks 60 Months

*There is no penalty charged for repaying the loan faster.

Requirements for a Short-term loan:

Your loan application form should be accompanied by the following documents.

If you are employed:

  1. Pay-stubs for the latest 3 months (Notarized)
  2. Letter from employer confirming employment status (Notarized)
  3. Bank statements for the latest 6 months (Notarized)
  4. Copy of Kenya ID or Kenya valid Passport
  5. KRA PIN Certificate
  6. Copy of the latest W2 Form issued by the employer
  7. Open a Bank account with KCB
  8. Two passport size photographs
  9. If married - spousal Consent form or Sworn Affidavit witnessed by a notary public
  10. If single - sworn affidavit witnessed by a notary public
  11. Security - Copy of the title document of a developed property acceptable by the Bank (Minimum lease term 35 years)

If you are Self-employed or Contract:

  1. Bank statements for the latest 12 months (Notarized)
  2. Copy of Kenya ID or Kenya valid Passport
  3. KRA PIN certificate
  4. Open a KCB Bank account
  5. Two passport size photographs
  6. Business registration certificate
  7. IRS Business Tax Returns for the latest filing year
  8. If married - spousal Consent form or Sworn Affidavit witnessed by a notary public
  9. If single - sworn affidavit witnessed by a notary public
  10. Security - Copy of the title document of a developed property acceptable by the Bank (Minimum lease term 35 years)
  11. 1099 Forms and/or any other supporting documents.

How to Apply for a Short-term loan:

  1. Download the loan application form and complete in its entirety
  2. Depending on your employment status (employed or self-employed), attach copies of supporting documents
  3. Send by Postal Mail the completed form with all documents and a non-refundable processing/handling fee of $100 check or Money Order to:

    Kenya USA Diaspora Sacco
    1320 Roswell Road
    Suite G6
    Marietta GA 30062

**Forms mailed without the $100 handling fee will not be processed.**

Download Loan Application Form

Download Short-Term Loan Terms & Conditions

Ungana na Sacco Ujijenge!
Contact Us

Offices and Contact Information

Victoria Towers, Ground Floor 
Kilimanjaro Avenue, Upper Hill 
P.O Box 21372 - 00100 GPO Nairobi, Kenya

USA TEL: +1 678 398 7728 
TEL: +254 792 746 217


Sacco Office Hours:

EAT: 08.00 Hrs - 02:00 Hrs
EST: 00:00 Hrs - 18:00 Hrs
CST: 23:00 Hrs - 15:00 Hrs
PST: 21:00 Hrs - 17:00 Hrs

OPEN: Mon - Fri
CLOSED: Sat - Sun