[Source: Business Daily, by John Mutua]
Small businesses that give false information to get State-backed loans or use the credit for purposes not disclosed in the applications risk up to Sh5 million fine.
The Treasury further says that small and medium enterprises (SMEs) who destroy property like offices and machinery used as collateral for the loans also risk the hefty fines.
Under the Public Finance Management (Credit Guarantee Scheme) Regulations, 2020, directors…
