The County Government of Nakuru has partnered with Kenya Commercial Bank(KCB) to boost Small and Medium Enterprises and Co-operatives.
Through the partnership, the County Government has invited SMEs and Co-operatives to make applications for loan grants.
According to Department of Trade, the move will boost their operations for economic growth.
The readily available 100 million shillings revolving fund( Nakuru County Enterprise Fund and the Cooperative Revolving Fund), will allow entrepreneurs previously excluded from financial landscape to access capital and grow their businesses into commercially viable.
County Executive for Trade Stephen Kuria revealed that the Enterprise Fund will provide loans between Kshs. 50,000 upto Kshs 200, 000 at an interest rate of 8% per annun.
Meanwhile, the Cooperative Revolving Fund will issue loan amounting from Kshs 200,000 to Kshs 5 million at an interest rate of 6% per annum.
Kuria added that the move is in line with
Governor Susan Kihika’s administration commitment in uplifting the lives of the common Mwananchi by promoting financial empowerment through accessible and affordable loan programs.
