About Choice Microfinance Bank
Established on June 13, 2015, Choice Microfinance Bank is a licensed deposit-taking institution founded by Kenyan diaspora members in the United States. Headquartered at Siron Place along Magadi Road in Ongata Rongai, Kajiado County, the bank specializes in providing accessible financial solutions to empower individuals, businesses, and community groups across Kenya.
Complete Loan Products Portfolio
1. Fanikio Group Loan
Purpose: Support for formal/informal savings groups (Chamas, self-help groups, youth/women groups)
Key Features:
- Loan range: KSh 5,000 – 100,000
- Flexible repayment: 3-12 months
- Fast processing: 24 hours
- Requires 35% savings of loan amount (first cycle)
- Includes 6-8 weeks pre-loan training
Requirements: Group registration documents, national IDs, business records (where applicable)
2. Lima Agricultural Loan
Target: Smallholder farmers (poultry, dairy, livestock)
Key Features:
- Maximum first loan: KSh 100,000
- 12-month repayment period
- Insurance coverage options
- Accepts group/individual applications
- Flexible collateral options
Special Notes: Farm transactions must be channeled through the bank
3. School Fees Financing
Purpose: Education cost support
Key Features:
- Loan range: KSh 5,000 – 100,000
- Direct payment to schools
- 12-month repayment
- Requires 3-month account history
4. Choice Micro-Loan
For: Established small businesses
Key Features:
- First loan limit: KSh 100,000 (up to 300,000 subsequently)
- 12-month repayment
- Requires 6-month business operation history
5. Jitegemea Personal Loan
Eligibility: Civil servants/TSC members
Key Features:
- Loan range: KSh 10,000 – 100,000
- Extended repayment: 3-24 months
- Requires salary processing through Choice MFB
6. Salary Advance
Purpose: Short-term employee financing
Key Features:
- Amount: Up to 1 month’s salary
- 3-12 month repayment
- Requires employer commitment letter
7. Mkopo Okoa Emergency Loan
For: Unanticipated financial needs
Key Features:
- 50% of net salary (KSh 5,000-100,000)
- 1-month repayment period
- Fast 24-hour processing
8-9. Business Growth Loans
Biashara Dhabiti: KSh 300,000-500,000
Supa Biashara: KSh 500,000-2M
Features: Flexible repayment, asset financing options, working capital support
10. Asset Financing
For: Business equipment/vehicle purchases
Key Features:
- Minimum KSh 300,000
- Financed asset serves as collateral
- 48-hour processing
11-15. Specialized Products
- Insurance Premium Finance: 80% premium coverage
- Bank Guarantees: Up to KSh 5M
- Bid Bonds: Tender support up to KSh 5M
- LPO Financing: 100% order financing
- Chama Loans: KSh 500,001-3M for registered groups
- Chemsha Biashara: Daily working capital (KSh 1,000-10,000)
Why Choose Choice MFB?
- Diaspora-backed financial solutions
- Competitive interest rates
- Fast processing (24-48 hours)
- Flexible repayment terms
- Comprehensive product range
Digital Banking Services
- Mobile banking app
- USSD shortcode banking
- Online account management
- Agency banking network
Contact Information
Head Office: Siron Place, Magadi Road, Ongata Rongai
Phone: 020 3882 206 / 0750 728 055 / 0736 662 210
Email: [email protected]
