Decas Form

DECAS BUSINESS SOLUTIONS
P.O. BOX 18004-00500 NAIROBI

C/o MT. KENYA & CENTRAL REGION
Email: decasbuzz@gmail.com
LOAN APPLICATION FORM-1ST TIER

APPLICANT’S PERSONAL DETAILS
First Name Middle Name Last Name
National ID/Passport No: Email Address:

Mobile No 1: Mobile No 2 : Residential Area:
Town/Building, Hse no:
POSTAL Address: Postal Code: Town
Referees Names: Mobile No: Relationship:
1.
2.
Business Name and Brief Details:
Description: Where is the specific What is the main How long has the business existed in
business location?(Town product or current location) if less than 6
,building, street service?(List months where was the previous
etc):Sketch map them) location?
LOAN PARTICULARS
I hereby apply for a loan sum of KSHs………………in word Shillings…………………………………………..………………..to be repaid at an

interest rate of 20% per month of the amount borrowed.
Purpose of the loan (Specific uses for which the loan is desired):
Loan security:
AMORTIZATION SCHEDULE
I undertake to repay the loan granted as per the schedule here under, commencing first week (wk) after the date of the
drawdown.
Frequency Wk1 Wk2 Wk3 Wk4 Wk5 Wk6 Wk7 Wk8 Wk9 Wk10 Wk11 Wk12
Payable
amount(shs)
DECLARATION
i. I certify that the information contained in this application is true and correct to the best of my knowledge and belief
ii. I do hereby confirm that I have read and understood the terms and conditions forming part of this application form
which will govern the loan and hereby accept and agree to be bound by the said terms and conditions and I have
accordingly endorsed the same
iii. I acknowledge receipt of Shs…………………………..from Decas Business Solutions on date………/……./2020.
Name of Applicant: Signature: Date:
Read & Accepted Sign:………………………………………………………
LOAN TERMS AND CONDITIONS
1. Requirements
i. In order to qualify for the loan, the loanee must be recommended by a fully paid up Director or their spouse. Only
trusted relatives and friends that are well known to the Director or their spouse to have a good credit rating and high
integrity will qualify for the loan
ii. The loanee will be required to disclose the purpose of the loan. The loan facility is meant to fund an important and
immediate need of the applicant such as school fees, business etc.
iii. An administration fee of Kshs……………shall be paid upfront by the applicant during the submission of the loan
application documents.
iv. The loan shall be administered by the Decas Loans Committee.
v. The loan shall be repayable within the agreed tenure at an interest rate of 20% per month charged on amount drawn.
2. Loan processing
i. A loanee shall complete the prescribed application form from the Decas Loan Committee stating the amount requested
and forward the form for processing.
ii. The loan applicant shall be required to present some form of security of equivalent value to the loan and complete the
security Transfer Agreement. The guarantor must assess and be satisfied with the security offered before it is
acceptable. The Decas Loans Committee shall evaluate the application and approve or reject the application and
communicate to the applicant through the recommending director. The decision of the committee shall be final.
iii. If the loan is approved, a cheque will be drawn IFO the applicant or the funds transferred directly to the loanee.
iv. The loan manager shall prepare a payment Voucher/ Receipt in duplicate for the applicant to sign on collection of the
cheque.
v. Decas loans will be processed fully within 48 hours after approval.
3. Repayment
i. Loan repayments must be made on or before the subsequent date the loan was disbursed. Any payment later than this
date shall attract full interest for the following month.
ii. Weekly repayments must be completed on or before end of the week from the date the loan is taken.
iii. Repayments shall be made by direct Deposit of the Decas Business Account or by Cheque. Banking/ deposit slips shall
be submitted to the Administrator.
iv. Any person who fails to complete the loan repayment by the end of the month will be termed a defaulter. Interest will
continue to be charged on a defaulted loan until it is paid. The administrator shall notify the members of the loan
committee and the guarantor of the defaulter. The administrator together with the guarantor shall issue a 30day
notice to the loanee to clear the loan failure to which his security will be liquidated without any further reference to
him/her. If payment is not made after 30 days’ notice period, the Company will engage the services of an auctioneer.
Costs of liquidation and interested accrued till the date of the liquidation will be deducted from the liquidated security.
Any surplus from the liquidation will be refunded to the loanee.
v. In the event that the security cannot be liquidated or the liquidated value cannot cover the loan borrowed, the
guarantor will be required to pay for the principle loan borrowed. Accrued interest will not be chargeable to
guarantors.
4. Acceptance of terms & conditions
Anyone taking this loan is bound by all terms and conditions herein and to any revisions to these rules that may be approved by
the directors from time to time
LOAN’S COMMITTEE
Approved Amount:
Loan Officer Name: Signature Stamp and Date:
For any amount above Kshs 100,000/-

Decas loan committee member: Signature: Date:
Read & Accepted Sign:………………………………………………………

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DECAS BUSINESS SOLUTIONS

P.O. BOX 18004-00500 NAIROBI

LOAN APPLICATION FORM-1ST TIER

National ID/Passport No: Email Address:

Referees Names: Mobile No: Relationship:

I hereby apply for a loan sum of KSHs………………in word Shillings…………………………………………..………………..to be repaid at an

Loan Officer Name: Signature Stamp and Date:

For any amount above Kshs 100,000/-

Read & Accepted Sign:………………………………………………………

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