Need Exim India Line of Credit Facility from Kenya Development Corporation (KDC)
This facility supports technology transfer from India to Kenya by facilitating the purchase of plant, machinery and equipment from India.
Areas of Focus
Key Features
- Minimum contract value of USD 50,000
- Financing of up to 100% C&F value of machinery & equipment
- 75% of the goods should be of Indian content
- Payments are restricted to Letters of Credit (LC)
- Advance payments – if any - are allowed up to 20%, with a 10% retention payable upon successful installation and commissioning of machinery and equipment
- Tenure of up to 10 years inclusive grace period on principal repayment of up to 24 months
- Terms and conditions apply
Application Requirements
Dully filled application form
Board Resolution to borrow or to invite KDC to acquire a stake in the Company
Feasibility Study/Business plan including Financial projections for the duration of the facility
Copy of Certificate of Incorporation
Copy of Memorandum and Articles of Association/CR2
Copy of Company’s KRA PIN and CR12
Tax Compliance Certificate (existing company)
Copy of latest Annual Return (existing company)
Copy of National ID and KRA PIN of Directors
2 recent colored passport photographs of Directors
Profiles of Shareholders/Directors and key Management
Bank Statements and/or Money Transfer Statements for the last 12 months (existing company)
Audited Accounts for the last 3 years and Management Accounts for the current financial year (existing company)
Copy of Proforma Invoice for the proposed machinery and equipment to be sourced from India, clearly indicating breakdown of items and CFR cost. Please note that payments for machinery and equipment under the Exim Bank of India Line of Credit are restricted to Letters of Credit (LC) and advance payments – if any- are allowed up to 20%, with a 10% retention payable upon successful installation and commissioning of machinery and equipment at importer’s site. Also note that at least 75% of the goods should be of Indian origin.
Proposed Security for the loan
Tenancy agreement long enough to cover the tenure of KDC’s facility, in respect of suitable rented property
Copies of relevant Government of Kenya Licenses & Regulatory permits
