Kenya Industrial Estates Description
Kenya Industrial Estates was established in 1967 as a subsidiary of ICDC to promote indigenous entrepreneurship by financing and developing small-scale and micro-enterprises.
Kenya Industrial Estates was established to facilitate development and incubation of micro, small and medium enterprises by establishing industrial parks, providing credit and business development services. It also provides finances, workspace and promotes sub-contracting links with SMEs to foster the development of indigenous companies.
Kenya Industrial Estates gives loans of between Sh 100,000 and Sh 5()0,000 ($6,250) in the microenterprise sector (juakali) and up to Sh14 million ($175,000) for small and medium enterprises. Interest charges are lower than those charged by financial institutions at 15 percent a year.
However, the rates are reviewed upwards or downwards depending on market trends. The repayment period is determined by cash flow projections of the enterprises and economic life of the assets financed, but should not exceed eight years for smallscale industries and three for micro-enterprises.
Lending is done on a fully secured basis. Security is valued up front. Application forms are available at the Kenya Industrial Estates head or regional and branch offices countrywide. Loans can also be applied online. Regional and branch managers help applicants complete the application form.
Once the application form is completed, it should be returned to the respective KIE office with the original and photocopies of security documents (title deeds) and trading licenses in case of business applications.