Airtime Loan Available: Min 100/-; Maximum 1,000/-. Interest of 10% paid upfront. No processing fees.
HBCWS aims at improving the economic and social status of women and their families. For a long time, most of our constituents have had little or no access to financial services. HBCWS aims at bridging this gap. Our dream is to inspire and empower women entrepreneurs of Homabay County in order to:
i. Develop their capacity to make sound
business and financial decisions.
ii. Enjoy robust savings and affordable credit facilities.
iii. Be facilitated to invest and accumulate financial and other assets.
iv. Enhance their capacity to exploit full social and economic potential.
- Must be a Kenyan citizen of Homabay
County or affiliated to Homa Bay County in some way, and between 18 - 59 years of age or a member of a registered group of the operating in the County.
- A copy of National Identity (ID) card and KRA PIN.
- Two recent passport size photographs.
- Fill in membership application form.
- Attach a copy of your ID, KRA PIN and 2 passport size photographs.
- Pay membership fees of Kshs 500/= per
individual to HBCWS through M-PESA PAYBILL or direct Bank Deposits into:
Bank Account No. 0980263389602 of
Homabay Branch of Equity Bank.
- Drop/send the form and the bank slip/M-PESA details to our offices OR email: homabaycountywomensacco@gmail.com
- Rejoining members pay Kshs. 2,500/-
- Select Pay Bill from the M-PESA menu.
- Enter HBCWS Paybill No.821965 as business number.
- Enter your HBCWS membership number as the account number or National ID for new membership and add letter N, eg if your ID is 123456, then for new membership it is 123456N or Deposits 123456D or Shares 123456S
- Enter the amount your are paying.
- Enter your M-PESA PIN.
- Easy and convenient savings facility.
- Affordable credit facilities.
-Financial and business management training.
- Business advisory services.
- A chance to interact, network, learn and
share experiences with other women (and male) entrepreneurs.
Long Term Loans (1 year+ loans)
Normal Development Loan: up to 3 times ones’ deposits for general development needs (property and housing, rentals, business acquisition, loan off-sets etc). Interest rate is 1% per month on reducing balance. Minimum loan amount is Kshs. 20,000/-. Maximum repayment period is 12 months for 1st loan; 18 months for 2nd loan and 36 months for any subsequent loan.
Higher amount and higher multiplier with longer repayment than Normal Development Loan. To be introduced in 2026.
Available at X3 deposits. Min 10k; Max 50k. repayable at 2.5% per week (10% p.m) FLAT RATE. 1st loan= 4 weeks; 2nd and other loans 12 weeks. Business must have current county permit and in a regular market place. Other chattels may be required.
Available at X3 deposits. Min 20k; Max 100k. repayable at 2.5% per month FLAT RATE with weekly repayments. 1st loan= 3 months; 2nd = 6 months; 3rd= 12 months. Business must be registered and has current county permit and in a fixed place (rented or owned).
Available at X3 deposits. Min 50k; Max 500k. Repayable at 1.5% per month FLAT RATE. 1st loan= 6 months; 2nd = 12 months; 3rd and other= 24 months. Business must be registered and has current county permit and in a fixed place (rented or owned). Must own some tangible assets.
Mobile Loans Min 1000/- ; Max 30,000/- using maximum 60% of free deposits. No guarantors needed. Subject to CRB and other parameters. 1st loan not more than Kshs. 5000/-Graduation is on monthly basis. Repayment is weekly, with maximum period of 1 month. Only 1 roll-over allowed. Interest rate is 7.5% p.m, paid upfront. Available anytime, anywhere.
Min 100/-; Maximum 1,000/-. Interest of 10% paid upfront. No processing fees.
Upto 2 times one’s deposits to settle school fees for self, spouse and children, repayable at 1% per month over 12 months. Minimum 20k; Maximum 100k.. Processed in December, July and August.
Between Kshs. 10,000/- and 100,000/-for unexpected incidents e.g. medical bills. Repayable at 1% per month FLAT RATE over 12 months.
- Must be an active member with minimum shares, having contributed minimum of Kshs. 1,000/- regularly for the past 6 months.
- Any lump sum deposits have to take 3 months to be considered for any loan.
- By having at least four guarantors who have been active for the past 3 months in deposit contribution, and fully paid up members with required share capital. Two of the guarantors must be from your group, but all must be from the same branch.
-Fill in loan application form and attach relevant documents.
- Yes. All loans granted by the society must be guaranteed by at least four members of the society, unless someone is taking a self-guaranteed loan, which is up to 80% of own deposits.
- Guarantors’ and applicants’ deposits MUST be equal to or more than the loan applied for.
- Any active member (must have paid the required shares) with good standing (consistent active deposit accounts for the
past 3 months) , provided that he/she has not guaranteed more than X2 of his/her own deposits.
- Must commit to repay the loan guaranteed if the loanee fails to pay.
- Guarantors are jointly together and severally (individually) liable for the repayment of a loan in the event of the borrower's default.
- Guarantors and deposits/shares. In future, we will also accept title deeds and logbooks in OWN name, besides other acceptable chattels.
- EFT (Electronic Funds Transfer)
- RTGS (Real Time Gross Settlement)
- Cheques or M-PESA
- Yes, that is allowed and does not attract early clearance charge.
-NO. HBCWS ordinarily offers finances to
businesses that have been in existence. The track record of a business is very important in determining the ability to service a loan.
- Inform the society of the intention to withdraw
is done by filling a Membership Withdrawal Form.
-A notice of ninety (90) days is required in case of any refunds due to the member (no withdrawals will be processed in 2024).
- inform all Loanees (s)he has guaranteed to seek an alternative guarantor.
- Refunds will only be paid to the member once the loanees guaranteed have replaced the guarantor.
- A withdrawal charge of 5% of deposits is applied.
- A nominee is the person designated by a
member to receive the proceeds of any
payable funds upon the incapacitation or
death of the member.
- All members are required to provide details of
nominee(s) upon registering as members.
- One can change and/or update his/her
nominee information as when and need arises.
Bank Account No. 0980263389602 of
Homabay Branch of Equity Bank.
Manager (0742121075); Finance (0742121175); HomaBay Town (0796521302); Ndhiwa (0796529042); Karachuonyo (0794025687); Rangwe (0794023412); Suba North (0794020628); Suba South (0794023968); Kasipul (0794022573); Kabondo-Kasipul (0759456139)
Whatsapp 0742 121 075 or 0742 121 175
MONDAY - FRIDAY
9:00AM - 5:00PM
P.o Box
390-4300 Homa Bay
Email:
info@hbcwomensacco.com
Phone:
+254 742 121 075
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