The urge to grow SME’s step by step to big, sustainable business is at the core of our operations. Are you a visionary running a small or mid-sized business? Partner with us today!
Most economic activity in the world today comes from small and medium enterprises, most of which are non-registered with a large number being unbanked, and a greater number being unable to access credit facilities.
The limited access to these facilities is largely attributed to the level of perceived risks associated with SMEs. Bank's in Kenya tend to opt out of providing these services to SMEs or demand collateral and charge exorbitant rates.
To this end, Gulf African Bank in our belief that SMEs are valuable business partners, is committed to addressing the Unique banking needs of SMEs through continuous innovation and improvement of our SME product suite.
Definition of SMEs
Gulf African bank defines an SME customer as:
A registered business with
- A minimum annual sales turnover of kshs. 3 million and a maximum annual sales turnover of kshs. 250 million
- Individual/business borrowing between kshs.1 million - kshs. 45 million, depending on the nature of the product
- SME construction financing and SME collateral management facility, limits can stretch to between kshs.40 million - kshs.60 million per party