Product

Services

Loan Types

CORPORATE MOU BASED SME FINANCING

These products are available to SMEs who provide services/goods to established Corporates who have signed a Memorandum of Understanding with Altus to facilitate payment of Altus loan repayments directly from the off-taker. Application and loan process:

Step 1: Corporate signs MOU with Altus
Step 2: SME applies for loan. Credit appraisal is conducted
Step 3: Altus reconfirms invoices/supply history with corporate
Step 4: Assignment of receivables by SME to Altus
Step 5: Financing advanced to SME

SMEs may obtain advance payments on their Supply/Service Invoices that they have already delivered on/fulfilled, invoiced and are pending payment. This facility is only open to SME’s servicing Corporates that have signed an MOU. Repayment unitl maturtiy:

Step 1: Altus makes submission of amounts due to Corporate
Step 2: Corporate pays Altus full invoice value
Step 3: Altus deducts loan amount payable and remits balance of funds to the borrower
Step 4: Loan closed off

SME Financing

This facility is a security backed loan that is open to all Small and Medium Enterprises that are duly incorporated and registered with PACRA that have evidence of servicing reputable Companies.

Order Finance

SMEs who have orders with established Corporates can obtain short term credit of 30 to 90 days to enable them fulfill their Supply contractual obligations.

Invoice Discounting

SME’s that have already supplied goods and services to Corporates and wish to get an advance against the amounts payable by the Corporate to meet their short-term needs pending payment by the Corporate.

Short term working capital

SME’s with proven track records and regular cash flows from servicing reputable corporate organizations may qualify for a short-term working capital loan ranging from 1 to 12 months.

How The Loan Application Process Works

SME supplier/contractor approaches Altus for funding

Altus confirms order with corporate KYC documentation reviewed

Credit appraisal conducted

Management credit committee approves facility

Security perfection with lands, PACRA & RTSA undertaken & finance is advanced to SME

PERSONAL CREDIT - CORPORATE PAYROLL

Altus Financial Services provides short term credit facilities to employees of Companies that enter into a Memorandum of Understanding (MOU) for payroll deduct loans with us. We offer superior service with a short turnaround time. The process is simple, and funds are disbursed within 24hours of a complete application being received. The funds are collected via monthly payroll deductions from the employer Company.

Requirement 1: Three latest pay slips (stamped by employer)
Requirement 2: Three latest bank statements (stamped by bank)
Requirement 3: Two passport size photos
Requirement 4: Copy of NRC/Valid passport/valid driver’s license
Requirement 5: Introductory letter from the employer

KEY FEATURES OF OUR LOANS

Our standard affordability criteria is that the employee should remain with at least 40% of Gross pay as take-home pay after all statutory, employer and third party deductions

Feature 1: Short term in nature, meant to finance short term needs that Banks typically do not finance.
Feature 2: Loan repayment period is from 1 month to 36 months
Feature 3: Top ups available after 3 months of performance on initial loan
Feature 4: No collateral required
Feature 2: Early Loan repayment allowed
Feature 2: Loan size depends on Employee’s salary and tenure of loan

INSTANT SALARY ADVANCES

Altus Financial Services provides short term credit facilities to individuals in formal employment. We offer superior services with a short turnaround time. The procedure is simple and straightforward in addition funds are disbursed within the short turnaround time of 30 minutes or less upon successful completion of application forms.

The funds are collected at the end of the month through Direct Debit and Credit Clearing (DDACC) payment system.

How The Loan Application Process Works

MOU signed between Employer and Altus

Employee application

Altus review of Application

Month end Repayment of Loan

Loan Calculator

Loan Types

CORPORATE MOU BASED SME FINANCING

Step 1: Corporate signs MOU with Altus

Step 2: SME applies for loan. Credit appraisal is conducted

Step 3: Altus reconfirms invoices/supply history with corporate

Step 4: Assignment of receivables by SME to Altus

Step 5: Financing advanced to SME

Step 1: Altus makes submission of amounts due to Corporate

Step 2: Corporate pays Altus full invoice value

Step 3: Altus deducts loan amount payable and remits balance of funds to the borrower

Step 4: Loan closed off

SME Financing

Order Finance

Invoice Discounting

Short term working capital

How The Loan Application Process Works

PERSONAL CREDIT - CORPORATE PAYROLL

Requirement 1: Three latest pay slips (stamped by employer)

Requirement 2: Three latest bank statements (stamped by bank)

Requirement 3: Two passport size photos

Requirement 4: Copy of NRC/Valid passport/valid driver’s license

Requirement 5: Introductory letter from the employer

KEY FEATURES OF OUR LOANS

Feature 1: Short term in nature, meant to finance short term needs that Banks typically do not finance.

Feature 2: Loan repayment period is from 1 month to 36 months

Feature 3: Top ups available after 3 months of performance on initial loan

Feature 4: No collateral required

Feature 2: Early Loan repayment allowed

Feature 2: Loan size depends on Employee’s salary and tenure of loan

INSTANT SALARY ADVANCES

How The Loan Application Process Works

Loan Features

Loan tenures ranging from 1 to 12 months

Loan amounts from K1, 000 to K250, 000.

Tailor made products to meet the needs of our clients