Kua Ventures invites small firms for Sh81 million loans

KOA Ventures, a business and credit advisory firm, has announced the opening of applications for its fourth edition of the financing scheme which will see local Small and Medium Enterprises (SMEs) obtain loans of between Sh5 million and Sh10 million to fund their operations.

The financing scheme, which opened on Tuesday, has set its sights on purely Kenyan companies that have been in operation for at least three years and generate annual revenues of between Sh5m and Sh25m.

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Applicants must also have a proven record of pursuing social impact through their business models.

The loans, which are due for repayment within five years, will attract interest at 12 percent on a reducing balance basis. The company says applications will be reviewed on a rolling basis through June 30 this year.

“We are seeking to invest around $600,000 (Shs81.7 million) in the next few months and this will cover between 10 and 20 companies. At a conversion rate of two percent, we can accept 500 to 1,000 companies,” said Caroline Kagendo, director of marketing and communications at Kua Ventures. to request. The daily business.

“We had 236 applications in the last round so I would say we could err on the side of getting too many applications but that’s still okay.”

The company says successful entrepreneurs will also benefit from a series of coaching sessions specifically designed to build their business capabilities, as well as joining a community of like-minded peers already enrolled in the program.

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In the previous three rounds, Koa has lent more than Sh100 million to 15 local businesses across a wide range of industries including waste management, retail, healthcare, agribusiness, construction, and ICT among other sectors.

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