PARTNERS IN PROGRESS: Mr.Ruurd Brouwer of the Netherlands Development Finance Company and Mr. Frank Griffiths, Fina Bank Managing Director, exchange documents during the signing ceremony for a Sh270 million loan agreement at Fina Bank Head Office.

Fina Bank has received three million Euros (Sh270 million) from Netherlands Development Finance Company (FMO) to lend to customers running small and medium scale enterprises.

Managing Director, Mr Frank Griffiths said the local currency line of support will allow the bank to provide longer-term loans to its customers. The bank offers Fina Business Development Solutions (SBDS) designed to finance SME business growth.

"Our objective is to deliver appropriate financial products and services to meet the needs of SMEs," Griffiths said during the signing of the new line of support in Nairobi on Wednesday.

The SBDS products include working capital loans, asset finance, insurance premium financing and trade finance products.

The bank has experienced huge growth in the new business portfolio, mostly in SME customers. Of these, 44 per cent had had no prior credit history.

The FMO support will help the bank achieve its countrywide development goal of creating conditions in which new and existing small businesses could grow and prosper.

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