Thrive
By Ota

A credit facility focused on early-stage diverse and inclusive enterprises looking to increase their production capacities, launch new product lines, invest in new technology, and expand their distribution networks in the Kenyan market. Thrive by Ota is presented in collaboration with HEVA Fund, the Queer and Allied Chamber of Commerce (QACC), and Dreilinden.

Photo by Andrea Piacquadio

OVERVIEW

Thrive by Ota is a responsive loan facility designed to respond to the needs of diverse Small and Medium Enterprises (SMEs) in all industries and targets businesses with a minimum operational history of 12 months and an existing product and market.

This facility is directed at supporting businesses’ working capital needs as well as the acquisition of production assets. Alongside the financing we are providing the following business support and enterprise training to improve the productivity of successful beneficiaries: 

● Capacity building.

● Guidance on formalising diversity and inclusion policies, and

● Assistance in addressing legal and regulatory compliance.

TYPES OF LOANS

Thrive By Ota offered four facilities:

  1. Asset Financing:

    These are loans to buy equipment for your business.

  2. Term Loans:

    These are loans given for a set period of time with a 7.5% interest rate. Regular fixed payments will be made until the loan and any applicable interest is repaid.

  3. Revenue-Based Financing:

    Instead of paying back a fixed amount every month, your business will share a small portion of future profits with us.

  4. Short-Term Financing/LPO Financing:

    Advance financing on the cost of goods supplied against a local purchase order (LPO). To be eligible, the borrower must have a confirmed purchase order. The LPO must be non-cancellable and must not be based on a guaranteed consignment sale.

EXAMPLES OF USE CASES

Successful applicants could use the loan for different things like:

● Growing Your Business: Opening new locations or hiring more people.

● Buying Equipment: Getting new tools and software or making the ones you have better.

● Getting More Products: Acquiring more things to sell.

● Managing Debts: Combining different loans into one.

● Everyday Expenses: Paying regular costs when business is slower.

● Promoting Your Business: Running ads or making your business better known online.

● Servicing a Client Order: We can give you up to 70% of the cost needed to complete an order.

Frequently Asked Questions

Applications are now closed but you can still learn more about Thrive by Ota via the FAQs

LET’S KEEP IN TOUCH

If you want to receive updates on how you can access funding, project incubation, mentorship, and invaluable resources that will fuel your growth and help you achieve your creative aspirations, join our mailing list and we’ll keep you posted.