Facebook Twitter Share

Kenya Tourist Development Corporation

Our Services

Home / Services

 

The Corporation provides the following credit products and services:

1. Short Term Loans

These are loans that are repayable for a period of not more than five (5) years. Under this scheme an applicant can borrow up to 70% of the total project cost subject to a maximum of Kshs. 10 millio

2. Long Term Loans

These are loans that are repayable over a maximum period of ten (10) years. Under this scheme an applicant can borrow up to 70% of the total project cost subject to a maximum of Kshs. 50 million

3. Business Advisory Services

The Corporation provides advisory Services to private sector enterprises at competitive prices to ensure that they rise to the challenges and leverages the opportunities presented by todays’ global economy.

These include:

  1. Preparation of Feasibility studies,
  2. Business Evaluations
  3. Strategic advice,
  4. Research on market trends

 

General Requirements

To qualify for our loan, an applicant must meet the following basic requirements:

  1. Applicants may be a company limited by shares, partnership or a natural person. In case of a limited company or partnership the shareholding must be at least 51% Kenyan and in case of a natural person he or she must be a Kenyan citizen.
  2. A venture should be tourism related project.
  3. All the requisite loan appraisal documents must be fully provided.
  4. A project should portray sound environmental policies and should have a National Environmental Management Authority (NEMA) certification to that effect.
  5. A project should demonstrate commercial viability and technical feasibility.
  6. Equity participation of 30%.

The applicant should therefore submit the following documents:

  1. Copy of the Certificate of Incorporation / Registration of Business Name
  2. Copy of Memorandum and Articles of Association / Partnership Deed
  3. Copy of the Company’s P.I.N Certificate
  4. Copies of the I.D and P.I.N. Certificates of the proprietors/ directors
  5. Copies of the Company’s Annual Returns
  6. Board Resolution to borrow
  7. Feasibility Study report/Business Plan
  8. Copy of Approved Architectural Drawings.
  9. Copy of Bill of Quantities (BQs)
  10. Copy of the Title Document of proposed security free of encumbrances
  11. Valuation report of the proposed security (NB: The Mortgage Value must be at least 30% above the principal amount)
  12. NEMA Certificate.
  13. Audited accounts for the last three (3) financial years
  14. Management Accounts for un-audited period.
  15. Bank statements for the last six (6) months.

 

Fees

In order to defray costs related to the evaluation of your application, the following fees are payable to the Corporation:

Loan Appraisal Fee

Appraisal fee of Kshs. 50,000/=. This fee is non-refundable and is utilized towards the costs related to the evaluation of the project, including a full, physical site visit.

Commitment Fee

This fee will be paid at a rate of 1% of the total amount borrowed after acceptance of the Loan Offer.

Other Fees 

Legal fees, valuation fees and any other charges related to Management shall be payable directly to the respective service provider by the borrower.

 

Interest Rates

The current interest rate is 9% per annum. Interest is computed monthly on reducing balance. Interest rates may be reviewed periodically by the Corporation to conform to contemporary economic fundamentals, as per the KTDC policies.   Borrowers will be advised accordingly.

 

Repayment Period

Long term loans are repaid over a maximum period of ten (10) years and short term loans are repaid over a maximum of five (5) years.