Kenya: Fina Bank receives 3 million Euro support from FMO
Fina Bank has received three million Euros (Sh270 million) from Netherlands Development Finance Company (FMO) to lend to customers running small and medium scale enterprises.
Managing Director, Mr Frank Griffiths said the local currency line of support will allow the bank to provide longer-term loans to its customers. The bank offers Smart Business Development Solutions (SBDS) designed to finance SME business growth.
"Our objective is to deliver appropriate financial products and services to meet the needs of SMEs," Griffiths said during the signing of the new line of support in Nairobi on Wednesday.
The SBDS products include working capital loans, asset finance, insurance premium financing and trade finance products.
The bank has experienced huge growth in the new business portfolio, mostly in SME customers. Of these, 44 per cent had had no prior credit history.
The FMO support will help the bank achieve its countrywide development goal of creating conditions in which new and existing small businesses could grow and prosper.
Source: The Standard
2 comments
sudep
We are a community based organisation based in Eldoret.
we are your partners. we are currently looking for investors to assist us in achieving our goals. we are legally registered. We recently attended your seminar on cash flow management.
We kindly appeal for your financial assistance.
You are invited to our business plan bidnetwork.org 91163
Kind regards,
Annette
CEO
Eng David N.Mbugua,Managing Director /CEO,rUPAT cOMMUNICATIONS
Dear Sir,
I have been to fina bank but no help was given to me.So they donot support the SMS.
Regards
Eng David N.Mbugua