{"id":2837,"date":"2022-02-28T18:47:01","date_gmt":"2022-02-28T15:47:01","guid":{"rendered":"https:\/\/www.ghafla.com\/sponsored\/?p=2837"},"modified":"2022-02-28T19:14:38","modified_gmt":"2022-02-28T16:14:38","slug":"co-op-bank-changing-the-business-landscape-with-innovative-msme-business-loans","status":"publish","type":"post","link":"https:\/\/www.ghafla.co.ke\/sponsored\/co-op-bank-changing-the-business-landscape-with-innovative-msme-business-loans\/","title":{"rendered":"Co-op Bank changing the business landscape with innovative MSME Business Loans"},"content":{"rendered":"

Are you a business owner running a Micro, Small and Medium Enterprises (MSMEs)? Do you want to boost your business, but you’re falling short of funds?<\/span><\/p>\n

Worry no more. Co-op Bank MSME business plus loans has you covered.\u00a0<\/span><\/p>\n

In partnership with International Finance Corporations, Co-op Bank has conducted numerous research to understand the Micro, Small and Medium Enterprises (MSMEs).<\/span><\/p>\n

The bank has developed a solution to help these entrepreneurs meet their needs and align with existing and new opportunities.<\/span><\/p>\n

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MSME Term Loan: What It Is?<\/b><\/h2>\n

An MSME term loan is the funds your business can secure to raise supply operations or expand your business.<\/span><\/p>\n

The loans come with a repayment period between 12 to 60 months, depending on your business scale.<\/span><\/p>\n

The bank offers both unsecured term loans and partially secured term loans.<\/span><\/p>\n

According<\/span><\/a> to Arthur Muchangi, the Director Retail & Business Banking at Cooperative Bank, <\/span><\/p>\n

“Our message to MSMEs is simple; we have heard you. We have made available a substantial kitty of Sh15.2 Billion for a package of loans that include an unsecured business loan, a first of its kind in Kenya.<\/span><\/p>\n

E-Credit through our MCo-op Cash App, where businesses can borrow up to Sh2 million via their mobile phone packaged insurance cover, which is handpicked and specifically negotiated to suit various segments under MSME, revised and pre-approved limits on overdrafts and loans.<\/span><\/p>\n

The loans will be supported by trade services that include Letters of Credit, guarantees, supply chain financing, among others.”<\/span><\/p>\n

What Are the Key Features of Co-op Bank MSME Current Account?<\/b><\/h2>\n

Co-op Bank MSME’s current account offers custom-tailored features that range from mobile loans, secured and unsecured overdrafts, insurance solutions, payment solutions, supply chain financing, credit cards, cheque book, internet banking, debit cards, <\/span><\/p>\n

Mobile banking, dedicated relationship manager and non-financial services like training and networking.<\/span><\/p>\n

Co-op Bank MSME solutions address the needs of entrepreneurs by providing three MSME account packages that address different requirements for their customers:<\/span><\/p>\n