Equity Bank has said it plans to lend Sh75 billion to small businesses at concessionary terms, noting that it will not participate in the State-led credit guarantee scheme.
Chief executive James Mwangi said Equity Bank has secured a mix of guarantees and cheap long-term loans from several development finance institutions that will unlock the funds for lending at 13 percent interest for five years.
In September last year the Kenyan government said it will provide Sh10 billion to guarantee commercial loans for SMEs in a bid to cushion…
