Loan beneficiaries of the MSME Covid-19 Recovery and Resilience program by KEPSA and Mastercard Foundation, have embarked on the process of salvaging and boosting their businesses. This is after the program disbursed the first batch of loans.
Ms. Eunice Maina, the founder of Bismart Insurance is one of the first beneficiaries of this program. She expressed her joy upon receiving the funds, which she says will go a long way in boosting her business marketing efforts. Watch her full story here: https://youtu.be/5kC_rlhKr3g
So far, a total of Ksh 2,910,000 has been disbursed to nine businesses derived from Real Estate, Insurance, Retail, and Education sectors.
Various business owners whom KEPSA was able to speak to, expressed their gratitude because of this program, for coming to their aid just at the right time. Many businesses especially Micro, Small and Medium Enterprises (MSMEs) have been adversely affected by the repercussions of the Covid-19 pandemic.
Through this program, KEPSA and Mastercard Foundation have a target of supporting at least 400 Micro, Small and Medium Enterprises (MSMEs) whose operations have been affected by Covid-19 pandemic, with interest-free and micro and SME loans ranging from Ksh 100,000 to Ksh 1.5 million.
From this initiative, a total of 234 loan applications have been successfully submitted with another 187 still in the application progress. Out of this, 207 loan applications have been pre-screened and 80 of them passed for further review by the fund manager.
In the coming days, more businesses will be receiving loans as the pre-screening process goes on.
Applications for the loan are open on www.smekepsa.or.ke
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