As a Kenyan brand providing small and medium enterprise businesses with an opportunity to connect to customers through digital, we are always working hard to ensure that we support such businesses to ensure continuity and growth. Over the last few years and with conversations with a lot of the sellers on our platform, the biggest challenge has been capital to run and expand the business.
We have now introduced Crediation Business loans. This is aimed at boosting your business and stock levels to ensure that customers do not miss out on products once they visit your shop on Sky.Garden. Issues of stock out will reduce drastically.
- To access this loan, the qualifications are;
- Average of Kes 50,000 in sales for three months
- Average of 5 sales in the last 3 months
2. The requirements for the application are the following;
- Certificate of Incorporation
- Company CR12
- National ID
- KRA certificate
- Signed personal guarantee which is auto-generated from our system
- Signed loan agreement which is auto-generated from our system auto-generated as well.
3. The Application Process is as follows.
- Go to Home Page where you will find a link to loans. You can also access this link from your wallet.
- Once you click the link, you will get a link to the Terms and Conditions, repayment rates and FAQs that provide more information about Sky.Garden seller loan. This same page also has a calculator that allows you to manually calculate how much you need to pay back.
- Once on the loans page and don’t qualify, the apply button will be disabled and you will be given a reason why you didn’t qualify.
- If you qualify, click "Apply" which will lead you to the introduction page where your name and phone number will be already be populated. You will however need to fill in the name of business as it appears in the company CR12, the location of business , your National ID and KRA pin. Once done, click proceed.
- The next step is Document Upload. Here, you will be required to upload your ID, Certificate of Incorporation and company CR12. If you don’t upload any of the mentioned documents, you will not proceed to the next step. These documents can be uploaded from your computer or smartphone. If using the phone and don't have the documents save, you can take a photo and upload.
- The next step will be the amount selection page, where the system will display the the amount you qualify. Here, select what percentage of the amount you would like to apply for. The percentage ranges from 5% to 100%.
- Once done with the amount, you will proceed to the Loan Terms and Agreement Page for you to input a signature in the form of your name and ID. If they match with the details provided in step 4, you will proceed to the next step which is the Personal Guarantee Page where a similar signature process will be shown.
- If all this is approved, the document will be downloaded in PDF format to your phone documents folder.
- Click “Proceed” where a pin will be required. This One Time Pin will be sent to the phone number you provided. Once you receive it, fill in and you will be notified that the loan application has been successfully submitted.
- Our team will thereafter go through the application to ascertain that all documents meet the requirements and if the loan is approved or rejected, you will get a notification via email and SMS.
- If the loan is approved, it will be sent to your wallet where you can withdraw from.
- Loan repayment is done on each order that you make where a percentage between 3-30% will be deducted. The percentage is determined by how much you borrowed.
- There’s no set repayment timeline and the deduction will be done until repayment is finalized.
- As a seller, you can also choose to pay back the whole amount.
- You can access your statement from the loans link in your wallet to have a detailed view of the amount borrowed, amount repaid and balance remaining.
Incase of any questions about the application process, don't hesitate to reach out to us on firstname.lastname@example.org