Construction Loan - Equity Bank
Q1: What is a Construction Loan?
🔹 A Construction Loan helps you finance the building of a residential or commercial property. Whether you're putting up your dream home or a new office block, we’ve got you covered!
Q2: Who can apply for this loan?
🔹 If you’re an active Equity Bank account holder and can show how you’ll repay the loan, you’re eligible to apply. Simple as that.
Q3: What are the key benefits?
🔹 Great question!
✅ Fast loan processing
✅ Flexible repayment terms
✅ Up to 10 years to repay
✅ Support services like legal, valuation, and insurance at competitive rates
✅ Business advisory services included
Q4: How long do I have to repay the loan?
🔹 You can repay the loan over a period of up to 10 years, depending on your agreement with us.
Q5: What can I use the loan for?
🔹 The loan is for constructing residential or commercial properties — homes, apartments, offices, shops — you name it!
Q6: What security do I need to provide?
🔹 The property being financed acts as the main security.
💡 We disburse funds in stages (tranches) as construction progresses. A certificate of completion is also required later on.
Q7: What documents do I need to apply?
🔹 For businesses or companies, we’ll need:
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Company PIN
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Memorandum & Articles of Association
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Director IDs and KRA PINs
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Latest CR-12 and filing receipt
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Tax Compliance Certificate
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Board resolution to borrow
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Proof of income or cash flow to repay the loan
📌 Don’t worry — I can help you with a checklist or connect you to an agent to guide you through it.
Q8: Are there any fees?
🔹 Yes, there are some applicable fees like legal, valuation, and insurance costs. These are competitive and often negotiated. I can get you in touch with a representative if you'd like a breakdown.
Q9: How is the loan disbursed?
🔹 The funds are disbursed in tranches, based on how far along your construction is. Each phase gets reviewed before the next disbursement.
Q10: How do I apply?
🔹 Here's a quick guide:
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Be an active Equity Bank account holder
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Submit a loan application
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Share your loan purpose and proof of income
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Provide the required documents
Need help filling out your application? I can connect you to a loan officer now. 📲
Q11: What support do I get from Equity Bank?
🔹 We don’t just give you the money — we support you with business advice, project follow-up, and responsive service throughout the journey.
Q12: What if I have an issue or complaint?
🔹 I’m here to help. If something’s not right, I can escalate the matter to a human agent immediately. They'll pick it up and assist you further.
Q13: Where can I see the terms and conditions?
🔹 All the details, including your rights and obligations, are in the loan offer letter you'll receive. I can also connect you to an agent if you’d like to review them before applying.