Microfinance institutions (MFIs) have been urged to cast their nets as wide as possible if they are to benefit from new opportunities springing from asset-based lending options. Since some banks, scaled-down lending to small and medium enterprises (SMEs) owing to their risk averseness – a host of other providers including digital lenders have emerged to cater to their debt finance needs. These alternatives, Macharia says are making a welcome contribution to growth company funding for SMEs seeking expansion options. Growth businesses, according to Jijenge Credit CEO, have never before had so many choices in terms of financing or investment options to scale up. Instead, money is available for opportunities such as marketing, working capital, investment, or seasonal cash flow needs.

Source: Standard Digital September 24, 2020 19:21 UTC