Lending to the kenyan youths; get a microbusiness loan from Equity Bank

    September 14, 2014   No comments

Its the dream of every kenyan youth to get a loan to start and run a business.Lending to partially established microbusinesses owned by the youths can be challenging to the financial service providers due to high chances of loan defaulting.
Luckily, today the Equity Bank of Kenya discovered a situation whereby when these youth in 'inferior' microbusinesses come together in groups they can heighten
their financial credibility.In one conclusion, the bank came up with a loan facility dubbed 'microbusiness loan' for the youths.
Am sure you are asking yourself, who a youth is or what businesses are targeted? There is no game without rules but it should not scare you.Remember people in business take risks!I will take you through all the requirements now.
Features and Benefits;
.The microbusiness loan is open to all youths in groups and must have active accounts with Equity Bank.The term 'youth' refers to both male and female individuals between ages 18yeatrs to 35years.
.Though in a group, individual borrowing is the main intention here.This means individuals can get tailor made loans to settle down their own specific needs according to their businesses.
.This loan can be used to finance a wide range of activities.This means people from different sectors of life can come together and form a group.Any microbusiness can do. Therefore,the activities to be financed can range from identifying or preparing new business markets,buying more stock,renovating stalls ,buying animal feeds or any other activity as per your business.
.The group's savings account will act as security against each member's loan.You dont have to worry about your individual properties.
.The loan amount can be as low as ksh 5000 and as high as you are able to repay.The minimum repayment period is 6months.
Do you know others in microbusinesses? Interested?  Together you can stand.
Any personal query? Comment below and I'll get back to you after visiting the bank again for you.
Wish you success as you apply for the microbusiness loan. 
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Mwabaya Katana

Posted By Mwabaya Katana

Mwabaya Katana is a Personal Finance online writer.He is the founder of 'Loans Kenya' Blog.

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