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Business Funding – What to do when the bank says “NO”

If you have approached your bank and found it difficult to secure the funds your business requires, you’re in good company. Banks are declining up to 50% of loan requests from some smaller businesses.

Banks’ lending decisions have very little to do with you or the prospects of your business. And their outdated processes and high costs of capital make it difficult for them to lend to smaller businesses.

Business owners are also being frustrated by the inability of banks to provide flexible forms of credit to businesses. This is highlighted by the fact that the availability of business overdrafts, long a favorite tool for businesses to smooth cash flow, has shrunk by more than 30%.

So where else can you get funding for your business?

If you’re looking for any type of business funding, try us out now! Remember Mwananchi Credit is completely free to consult and allows you to;

  • Apply in less than 6 minutes
  • Compare all your funding options with no impact on your credit rating
  • Choose which facility to work with

Delivering funding to businesses within 6 hours

In a recent request for funding, our client was running a growing company . The owner needed to bridge the gap between a bill that was due immediately and a customer payment that was expected ten days later.

With a range of different funding options available, we were able to quickly solve this cashflow problem. The solution in this case was to release the payment from the outstanding invoice the very next day.

This proved to be not just the right solution for the business but also cost effective – as the business only paid interest for the ten days that it required the funding. And there was no fee for setting up the funding facility.

Put us to the test

If your business could benefit from extra funding just head over to Mwananch Credit and we’ll do all the hard work for you.

More cash flow and financing help

You can find help and tips on all aspects of business funding at our offices

Pension Towers Mezzanine 2, Loita Street, Nairobi
ECOBANK BRANCH
Ecobank Towers 2nd floor, Mundi Mbingu Street

KITENGELA BRANCH
Capital Centre Building, Second Floor

ELDORET BRANCH

Zion mall 2nd floor opposite Aga Khan Hospital

Tel: +254 736 888825 +254 (0) 20 2221882, 0701 396027,0731 888825



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