Espace Jeunes FCOMTE

Main Menu

  • Home
  • French banks
  • French Economy
  • Young People Space
  • French University
  • University Fund

Espace Jeunes FCOMTE

Header Banner

Espace Jeunes FCOMTE

  • Home
  • French banks
  • French Economy
  • Young People Space
  • French University
  • University Fund
French banks
Home›French banks›Small businesses consider longer credit terms from banks

Small businesses consider longer credit terms from banks

By Lisa Perez
November 29, 2021
0
0


Capital markets

Small businesses consider longer credit terms from banks

Tuesday, November 30, 2021

BDgeneric_logo
By OTIATO GUGUYU
More from this author

Summary

  • The Cooperative Bank last week announced a seven-year loan facility for small businesses with up to 250 workers.
  • The government also entered the fray by launching the SH 4 billion SME Guarantee Fund backed by a pledge from donors to fund a capital of Sh 10 billion.
  • The African Development Bank and European institutions have played a key role in supporting affordable conditions through low cost financing.

Small businesses are considering longer-term loans at fairer rates from funds provided to banks by development finance institutions to provide capital to finance the post-Covid-19 stimulus package.

Cooperative Bank #ticker: COOP announced last week a seven-year loan facility for small businesses with up to 250 workers, in partnership with the European Investment Bank (EIB) which provided 50 million euros ( 6.3 billion shillings) to help small businesses finance business acquisition, working capital, innovation development of distribution networks and business research.

The EIB also reached a nine-year, 100 million euros (12.7 billion shillings) financing deal last week with pan-African lender Ecobank Group for subsequent loans to sectors most affected by the Covid pandemic. 19 in the region.

“This latest cooperation will help businesses better meet the challenges triggered by the Covid-19 pandemic, open up economic and social opportunities, especially for SMEs and women-owned and-led businesses, across sub-Saharan Africa. in the coming weeks ”, declared EIB Vice-President Ambroise Fayolle.

Equity Bank #ticker: EQTY also announced an SME Loan Program, offering medium-term loans to businesses that have struggled to access credit due to risk.

Equity Group chief executive James Mwangi, who signed a financing worth 62.8 billion shillings, said the capital would unlock the potential to lend to SMEs at 13% for five years.

KCB #ticker: KCB also received $ 150 million (16.4 billion shillings) from IFC last year for loans to MSMEs on flexible terms.

The government also entered the fray by launching the SH 4 billion SME Guarantee Fund backed by a pledge from donors to fund a capital of Sh 10 billion.

As of June, the program had guaranteed 334 credit facilities amounting to 634.5 million shillings.

The African Development Bank and European institutions have played a key role in supporting affordable conditions through low cost financing, guarantee programs and funding for SME training to ensure that disbursed funds are used well.

Besides the EIB, other institutions include leading European development banks, notably the German DEG, the Dutch FMO, the British CDC and the French Proparco as well as the International Financial Cooperation of the World Bank.

[email protected]


Related posts:

  1. Credit card interest rate notice
  2. How an exemption or short sale affects a credit score
  3. How to read (and interpret) your credit score
  4. The best loan offers for young students and workers
Tagscovid pandemic

Recent Posts

  • Are the students really too fragile for Shakespeare?
  • From Europe’s powerhouse to its weakest link: Germany’s economy falters
  • Javan Davis Eaton – OBX today
  • Amazon Layaway: a new advantage of Amazon Prime
  • Jeney McCoy – The Santa Barbara Independent

Archives

  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • September 2020
  • August 2020
  • April 2020
  • March 2020
  • February 2020

Categories

  • French banks
  • French Economy
  • French University
  • University Fund
  • Young People Space
  • Terms and Conditions
  • Privacy Policy