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State-backed loans for SMEs capped at Sh5m
Credit Bank CEO Betty Korir signs the Credit Guarantee Scheme agreement with the Treasury on December 8, 2020 in Nairobi. Looking on is the Kenya Bankers Association chairman Joshua Oigara (left), National Treasury CS Ukur Yatani (third left) and Treasury PS Julius Muia ( seated right). PHOTO | SALATON NJAU | NMG
The Treasury has capped at Sh5 million the loan under the State-backed Credit Guarantee Scheme launched yesterday to help small traders recover from Covid-19 shocks.
Seven banks have signed up to the first phase of the scheme unveiled by Treasury secretary Ukur Yatani to help cash-strapped micro-, small- and medium-sized enterprises (MSMEs) get part of capital to sustain operations.
