Cooperative Bank, IFC to offer unsecured loans to SMEs

Cooperative bank in partnership with the International Finance Corporation has kicked off a business training and affordable financing targeting small businesses in Kenya.

The lender says under the programme, Micro, Small & Medium-sized Enterprises would be offered 15 billion shillings in unsecured loans.

The Bank has kicked off Customer Networking Forums for Micro, Small & Medium-sized Enterprises which will see the bank train its customers countrywide on strategies to grow their businesses in changing operating environments.

This is part of a joint 15 billion shillings initiative project between Cooperative Bank and the International Finance Corporation to help develop the SME sector in the country.

Under the programme, Micro, Small & Medium-sized Enterprises will access unsecured business loan, E-Credit facility, packaged insurance cover, revised and pre-approved limits on overdrafts and loans.

The bank says this is part of their deliberate efforts to spur growth in the SME sector in a bid to add more jobs into the economy.



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