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    Raphael Agreement June 2023

    Uploaded by

    Angela Mia Ayako
    This agreement is between Raphael Mwandau Mwanyalo, the borrower, and Martha Mkamombo Maghanga, the lender. The lender has provided the borrower with a loan of 714,000 Kenyan shillings to help meet financial obligations while awaiting payment from vendors. The borrower must repay the full principal amount within one month, or interest of 1% per month will be charged until full repayment. Both parties signed the agreement on June 14, 2023.

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    © All Rights Reserved
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    Raphael Agreement June 2023

    Uploaded by

    Angela Mia Ayako
    47 views2 pages
    This agreement is between Raphael Mwandau Mwanyalo, the borrower, and Martha Mkamombo Maghanga, the lender. The lender has provided the borrower with a loan of 714,000 Kenyan shillings to help meet financial obligations while awaiting payment from vendors. The borrower must repay the full principal amount within one month, or interest of 1% per month will be charged until full repayment. Both parties signed the agreement on June 14, 2023.

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    This agreement is between Raphael Mwandau Mwanyalo, the borrower, and Martha Mkamombo Maghanga, the lender. The lender has provided the borrower with a loan of 714,000 Kenyan shillings to help meet financial obligations while awaiting payment from vendors. The borrower must repay the full principal amount within one month, or interest of 1% per month will be charged until full repayment. Both parties signed the agreement on June 14, 2023.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    47 views2 pages

    Raphael Agreement June 2023

    Uploaded by

    Angela Mia Ayako
    This agreement is between Raphael Mwandau Mwanyalo, the borrower, and Martha Mkamombo Maghanga, the lender. The lender has provided the borrower with a loan of 714,000 Kenyan shillings to help meet financial obligations while awaiting payment from vendors. The borrower must repay the full principal amount within one month, or interest of 1% per month will be charged until full repayment. Both parties signed the agreement on June 14, 2023.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    You are on page 1of 2

    DATED 14 JUNE 2023

    FINANCIAL SUPPORT AGREEMENT

    BETWEEN

    RAPHAEL MWANDAU MWANYALO

    AND

    MARTHA MKAMOMBO MAGHANGA

    -----------------------------------------------------------------------------

    THIS AGREEMENT made this 14 June 2023 BETWEEN

    RAPHAEL MWANDAU MWANYALO, referred to as “the Borrower”

    AND

    MARTHA MKAMOMBO MAGHANGA referred to as “the Lender”

    WHEREAS
    A. The Borrower carries on the business of consultancies among other related business

    B. The Lender has, at the request of the Borrower, granted the Borrower financial assistance to
    enable the Borrower to meet his financial obligations while waiting for payment from his
    vendors, subject to the following terms and conditions

    NOW THIS AGREEMENT WITNESSES AS FOLLOWS: -

    1. LOAN AMOUNT:
    The Lender has advanced to the Borrower a sum of Kenya Shillings Seven Hundred and
    Fourteen Thousand (Kshs. 714, 000/=) (hereinafter referred to as “the Loan”) receipt of which
    the Borrower hereby acknowledges.

    Page 1 of 2
    2. REPAYMENT AND DEFAULT INTEREST:

    (i) The Borrower shall repay the Loan as provided in clause 1 above, within One (1)
    month from the date of this agreement

    (ii) As repayment, the Borrower shall repay the Loan as follows:

    (a) Kenya Shillings Seven Hundred and Fourteen Thousand (Kshs. 714,000/=)
    being the principal amount.

    (iii) In the event that the Borrower defaults in payment as provided under Clause 2(ii)
    above, the Lender shall, in addition to the amounts referred to in clause 2 (ii) (a),
    the Borrower shall pay the Lender interest at the rate of One (1) per cent per month
    on the Loan until the amounts referred to in clauses 2 (ii) (a) above are paid in full.

    Signed by the Borrower }

    Raphael Mwandau Mwanyalo }

    Witness Name: }

    Signed by the Lender } Martha Maghanga

    Martha Mkamombo Maghanga } Martha Maghanga

    Witness Name: } Ivy Malemba Maghanga

    } Ivy Malemba

    Page 2 of 2

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