Individuals and Institutions
Individuals and Institutions can walk in to any of our Banking branches, Branch Units, or Agents and walk out with an Account number.
Groups / Chamas / Saccos
SMEP uses the Grameen methodology to finance groups. Group members who are acquainted to one another, share financial dreams and are willing to guarantee one another for credit, even where the group does not have security (collateral) can join SMEP and get financial services. The programme starts lending amounts of between Kshs 20,000 to 50,000, and as the members’ businesses grow, the next amounts borrowed are graduated upto Kshs 100,000.
These loans can be paid weekly, biweekly or monthly in sync with group meetings. The groups also maintain individual collateral savings account with SMEP, where all mandatory savings are deposited with SMEP, which enable members to save for future needs as well as guarantee one another in the group.
Groups can also operate a KIWA (Kikundi cha Wanabiashara) group savings account for group projects and initiatives. The idea is also to mobilize group savings in one account for all members, which earns interest paid to the group every year, and can further be booked as a fixed deposit for greater interest benefits. The savings can also serve as cash collateral for loans advanced.
SMEP has institutionalized an Almasi programme which consists 10 members (Almasi) for those clients with higher business needs at the joining point, say may need loans of Kshs 50,000 and above. Graduated clients from the groups needing higher loans and willing to secure the loans 100% with tangible assets can also get loans individually.