Entrepreneurs To Access $100 Million SME Loans With Low Lending Rate

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Equity Bank & IFC have partnered to avail Ksh. 8.3 Billion ($100 Million) to support lending to small and medium businesses, agricultural projects and women entrepreneurs in East Africa.

Equity announced that the lending rate will be tagged at 12%. This is the most attrative SME lending rate available in Kenya considering that the current market lending rate in the market is 32%.

Structure of disbursement will be dependant on the business needs. The loan will be available for 7 years and repayments can be arrange on monthly or quarterly depending on the entrepreneurs needs.

The SME loans is available in most of the Equity Bank Branches.