ASA Kenya offers a Small Loan product tailored for women running small businesses, aiming to drive economic empowerment. Loans range between KSh 10,000 and KSh 30,000 in the first cycle. Applicants must form a women-only group of 5 to 30 members. The small loan features a convenient loan term, with repayment over 6 or 10 months, and the first disbursement is made after just two weeks from approval. Weekly meetings and payments are required, and borrowers carry individual liability within the group structure. Interest rates and applicable fees, including admission, processing, and verification, apply.

How to Apply for ASA Kenya Small Loan

1. Form a group of at least 5 female business owners (eventually growing to 15-30 members).
2. Pay the applicable admission, processing, and verification fees during application.
3. Attend weekly group meetings for assessment and support.
4. After two weeks of group meetings and verifications, receive the first loan disbursement.
5. Start weekly repayment after one week of loan disbursement.

Pros of ASA Kenya Small Loan

The biggest advantage of this loan is the quick access to capital for women running small or micro businesses. The minimum amount starts at just KSh 10,000, making it accessible to many.

Weekly repayment schedules make it easier to manage finances and track loan payback. The group-based approach also provides added support and accountability for members.

Cons of ASA Kenya Small Loan

The loan is exclusively available to women, so male entrepreneurs are not eligible. Group formation is mandatory, which may be a barrier for solo applicants.

Processing, admission, and verification fees apply, which can increase the total loan cost. Additionally, group dependency means one member’s failure could affect others.

Verdict: Should You Apply?

ASA Kenya’s Small Loan is highly recommended for female entrepreneurs seeking flexible and accessible financing. If you can form a group, it offers fast funding and manageable repayments, ideal for small business growth in Kenya.