Business Funding Kenya: There is no doubt that nearly all businesses in Kenya were affected by the coronavirus pandemic that set foot in Kenya in early 2020. As the economy plunged into recession, businesses were left with wounds, some of which may never heal.
Today, many of these businesses are struggling to get their foot on the ground again. They are however overstretched. They have no money to boost their operations. In any given instance, for these small and medium enterprises, the dye seems cast.
But the good news is that all is not lost. In fact, there is a way you can get capital boosting. This boost amounts to half a million shillings.
Co-op Bank gets Sh. 8.25 billion to lend and support small businesses
How, you may ask! The Co-operative Bank has a credit program that allows customers to apply for a Sh. 500,000 working capital loan to support their businesses. This loan facility is offered as part of a package that includes asset financing for the acquisition of the in-demand Isuzu NKR and Isuzu FRR trucks. The loan comes with the longest re-payment periods in the market of up to 5 years. In the same vein, the bank is offering a 60 days’ grace period and a negotiated motor vehicle insurance cover.
TO APPLY for business funding CLICK HERE!
This credit facility is among the latest in a series of efforts by Co-op Bank that are aimed at supporting the small and medium enterprises sector. Already, the bank has received a Sh. 8.25 billion facility from the International Finance Corporation to support struggling micro and small enterprises in Kenya.
“The funding has come at a most opportune time as it boosts our ability to better support our MSME customers to stabilize and turn-around their businesses to meet the challenges brought about by the pandemic,” Co-op Bank Group Managing Director and chief executive officer Dr. Gideon Muriuki said. Business Funding Kenya.