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"helping Small Business Owners Scale the Steps to Business Success"

"helping Small Business Owners Scale the Steps to Business Success"
Symbol of Hope for Small Businesses in East Africa

Saturday, April 18, 2009

REF: CREDIT RATING FOR THE SME'S IN EAST AFRICA

WE RECOGNIZE THAT THE MICRO AND SMALL ENTREPRENEURS NEED TO ACCESS AFFORDABLE CREDIT TO HELP THEM FINANCE THEIR WORKING CAPITAL NEEDS AND GROWTH, HENCE THE SAID CREDIT RATING INITIATIVE FOR THE MSME’S WILL ASSIST THE MEMBERS TO:

FIND EASIER TO ACCESS CREDIT FROM BANKS AND TRADE CREDIT SUPPLIERS OR MORE CAPITAL FROM DEVELOPMENT BANKS AND VENTURE CAPITALS

IMPROVE THEIR INTERNAL SYSTEMS AND PROCESSES MAKING THEM ATTRACTIVE TO CORPORATE FIRMS WANTING TO DO BUSINESS WITH THEM

WELL RATED MSME’S MAY HAVE COLLATERAL REQUIREMENT RELAXED AND BORROW AT LOWER RATES.
CREDIT RATING WILL ALSO CONTRIBUTE TO LOWERING OF BORROWING AND MAKE DISBURSEMENTS OF LOANS FASTER

THE CREDIT RATING SYSTEM FOR THE MSME SECTOR IS MEANT TO STIMULATE LENDING TO THE SECTOR IN EAST AFRICA

Richard N. Muteti
Director