On November 29, the Kenyan government launched a credit program aimed at small and medium-sized businesses (SMEs).
The Kenya Development Corporation (KDC), in collaboration with the Kenya National Chamber of Commerce and Industry,
will run the Tuesday-launched program (KNCCI).
SMEs interested in the facility may submit loan applications for amounts ranging from Ksh10 million to Ksh500 million.
On November 29, the Kenyan government launched a loan program aimed at small and medium-sized businesses.
The Kenya Development Corporation (KDC), in collaboration with the Kenya National Chamber of Commerce and Industry, will run the Tuesday-launched program (KNCCI).
SMEs interested in the facility may submit loan applications for amounts ranging from Ksh10 million to Ksh500 million.
According to a statement from KDC, the cooperation will allow over 3,000 SMEs to receive funding from KDC at a competitive rate,
helping these entrepreneurs to better manage the credit shocks and risks as they recover and build their businesses.
Richard Ngatia, president of the KNCCI, commended the action and noted that it complemented the Hustler Fund and the Kenya Kwanza economic vision,
both of which would be launched on November 30, 2022.S Small businesses and corporations who desire the loan must submit an application on the KDC website.
The application portal can be accessed by users by going to portal(dot)kdc(dot)go(dot)ke.
The following information will then be requested from the applicants: the company’s name, PIN number,
VAT registration number, phone number, email address, postal address, and physical location.