Sidian Bank Knows What SMEs Want

Small and medium sized enterprises or sometimes known as small and medium-sized businesses are business whose personnel fall below certain limits. In Kenya, the SME sector covers a wide range of areas and in most cases is referred to as the informal sector or rather still the juakali sector. This is a sector that provides employment opportunities to more than 80 percent of the Kenya’s population especially the young generation.

SME, therefore, is a very essential sector to the growth of any economy and one that need attention from all the stakeholders. Unfortunately, the sector has been overlooked by very many quarters with some seeing it just as the name suggests informal and in the process according it very little assistance. This has seen many SMEs facing numerous financial challenges, something that has seen the majority of them failing to sustain themselves and therefore closing down.

Having this in mind, Sidian Bank has special products and services that are specifically designed for the SME sector as well as SMEs. The banks vison is to be the preferred partner in realizing entrepreneurial potential and its mission is to empower entrepreneurs to create wealth through provision of transformational financial solutions.

Sidian Bank for instance has an SME Corporate Loan which is best suited to pull any SME out of any financial hurdle. This is a business loan facilities that is meant for entrepreneurs for development projects. The loan comes with such special features as:

• Loans available from Ksh 10,000,000 to Ksh 300,000,000
• Competitive interest rates
• Repayment period of up to 8 years
• Appropriate collateral
• Appropriate moratorium period is provided

This is just a sample of the products that shows that Sidian Bank has the interests of the SME at its core and knows exactly the challenges facing the SME sector.

Article by Juma Fred.