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SMEs are at the heart of what Credit Bank PLC does. Kenya’s economy, despite its challenges, is one that grows whilst supporting various sectors. The Small and Medium Enterprises (SMEs) sector is one that contributes and positively impacts the Kenyan economy. Despite contributing only 3% to the country’s GDP, SMEs provide more than 30% employment opportunities. Further, 98% of all business in the country are SMEs.

For years, our mission at Credit Bank has been to provide financial solutions that impact the economy positively. Realising the impact SMEs were having in the economy, we realigned our strategic plan to have small and growing businesses at the centre of the Bank’s transformation. For the past decade, the bank has shifted its focus to serving SMEs with solutions that facilitated their growth.

Offering personalised financial solutions to entrepreneurs provided an opportunity for us to develop a deeper understanding of SMEs. This gave us the impetus to be better at what we do and to innovate. We moved to develop a wholistic approach to SMEs – an approach which we were recently recognised for i.e. providing sustainable finance in the economy.

To come up with a wholistic approach to working with SMEs, we undertook a research that gave us insights. From the survey, we learnt that finding business advisory support is difficult for small businesses. Access to capital is still a challenge that impedes growth of businesses. In addition to capital, SMEs are looking for support around marketing, compliance, talent management and strategy.

Over the years, our Trade Finance solutions have helped SMEs develop a structure and put in place systems that enable them to access financing. From the research however, it was clear that we had to move to create something more sustainable. This led to the development of the Entrepreneurs’ Hub.

eHub, short for Entrepreneurs’ Hub, is a platform that seeks to galvanise and resolve challenges small and growing businesses face. Here, members get to engage with one another, learn from industry experts and/or programmes we’ve set up and from this they can grow their businesses. The platform aims to form true partnerships with SMEs and address their challenges through hands on coaching and mentorship. At the end of the day, the SME will have structures and systems in place enabling them access important resources that include financing.

The above approach is one of the ways Credit Bank partners with customers to elevate and empower them financially. Our goal is to be the vanguard of economic transformation for SMEs. A transformed SME sector is one that directly impacts the strength and growth of the Kenyan economy.

The bank has further aligned itself with the country’s economic agenda of improving the economy through food security, increasing local manufacturing, providing universal healthcare and affordable housing solutions. To achieve impact at scale, this can only be done through partnerships. One such partnership, enabling new financing capabilities, is with Medical Credit Finance. This partnership is targeted towards healthcare institutions where we provide financing for the expansion of their respective practices.

Our expertise with small and growing businesses puts the Bank at the apex of such partnerships. The European’s recent recognition of our efforts as the Best SME Partner Bank is a testament to this. At the helm of this concerted effort is Ms Betty Korir who also won the accolade of CEO of the Year 2019.

“As we seek to leverage on partnerships and move the bank to greater heights, we will continue to innovate and provide relevant impactful solutions,” says Betty. “We will continue to build on this strength. Globalisation further provides growth avenues for SMEs and that of our economy. We are at the forefront of creating an enabling environment for SMEs to take advantage through our Trade Finance solutions. More importantly is that some of the solutions are not necessarily monetary but those that ensure international trade is done through a trusted intermediary.”

“The future presents more opportunities as we take advantage of fintech. Our current robust technology allows for SMEs and individuals to conduct their banking from the palm of their hands. Ability to access banking services from anywhere has allowed for convenience giving entrepreneurs time to focus on their business. We remain committed to SMEs and further continue to research ways in which we can improve and grow their businesses. Stability is important for them and having a financial partner they can bank on is crucial.”

Betty further asserts that Credit Bank is indeed the friend you can bank on. A friendly approach indeed develops partnerships.

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More Options

Empowering you to grow takes a special place at the heart of our operations. elev8HER is designed just for you and offers more than just financial solutions. We seek to be the friend you can bank on for your growth. Join elev8HER today and get exclusive access to:

  • ~elev8HER Community – a chance to market your business to others
  • ~elev8HER Health – activities such as walks, free check-ups and more
  • ~elev8HER Newsletter – with business insights and features a client each month
  • ~elev8HER Visa Debit Card – a card just for you
  • ~elev8HER Site – this comes with learning modules and expert opinions on various matters
  • ~elev8HER Café – features business moguls to learn engage and prosper

 

Insurance Options

HER Car Insurance

 

With elev8HER, we have curated our motor vehicle insurance options just for you. We have the following options:

  • ~HER Private Motor Vehicle Cover – this covers all vehicles used for personal, social and pleasure purposes.
  • ~HER Commercial Vehicles – this cover is for all vehicles used in the line of doing business.

This insurance cover indemnifies you in respect of accidental damage including collision, fire, theft of the vehicle and third party liabilities.

 

HER Business Insurance

 

This is a comprehensive insurance that covers your property against any accidental and unforeseen loss or damage. It offers a wide range of unique benefits depending on your needs. The following policies are available under this class among others:

  • ~Fire and Allied Perils (Burning flame, explosion, impact, flood, malicious Damage)
  • ~Burglary policy including holdup
  • ~Cash in transit/Goods in transit
  • ~Home Insurance (Domestic Package) – Sections A,B,C,D, E & F
  • ~All risks
  • ~Fidelity Guarantee policy
  • ~CAR
  • ~WIBA

 

HER Health Cover

 

This cover is suitable for you and your employees. You can now have peace of mind together with your employees with our medical cover. Credit Afya Health product is designed for both individuals and SMEs and offers the following:

  • ~Inpatient and outpatient cover
  • ~Various memberships for free – Mums Club, Senior Club, Maisha Fit among others
  • ~Terms and condition will vary for different clients and different requirement.

 

HER Travel Insurance

 

Travelling the world? This cover is for you if you are travelling for leisure or business and offers you the following:

  • ~Emergency Medical and related expenses
  • ~Loss of Baggage
  • ~Travel inconveniences
  • ~Personal accident

The cost of this cover is normally dependent on number of days of travel, country of destination, country of destination, your age and type of visit.

eHub

eHub is a platform designed to enable your small and medium sized enterprise (SMEs) scale and become competitive across industries. eHub provides a platform for you to network, learn and do business. Non-financial service package include access to e-hub for free/discounted rates:

  • ~Access to eHub Accelerator programs
  • ~Access to eHub Circles
  • ~Access to eHub Mentors
  • ~Access to eHub Masterclass
  • ~Access to eHub One on one coaching sessions
  • ~Women Café – monthly talks on pertinent issues affecting women in business and women in general

Learn more here.

 

Financing Options

HER Business Loan

If you have run a small and growing enterprise for at least three years, this term loan is designed to meet your financing needs.

What You Get
  • ~Access loan value of up to KES 10 million
  • ~Preferential interest rate
  • ~Last two months interest rebate upon full redemption of loan and consistent repayment with no incidence of arrears.
  • ~Access to other elev8HER products such as insurance packages with discounted premiums, and non-financial service package including access to eHub for free

 

HER Start-Off Loan

 

If you have run a micro and small enterprise between one and three years, this term loan is designed to meet your financing needs.

 

What You Get

 

  • ~Access loan value of up to KES 3 million
  • ~Preferential interest rate
  • ~An unsecured option is available
  • ~Last two months interest rebate upon full redemption of loan and consistent repayment with no incidence of arrears.
  • ~Access to other elev8HER products such as insurance packages with discounted premiums, and non-financial service package including access to eHub for free

 

HER Trade Loan

 

Sometimes cashflows are tight. This solution is meant to ease your cash operations in the short term. Access this financing with your LPO/LSO contracts. Open an elev8HER account for business transactions to build your business banking record.

 

What You Get

 

  • ~Get up to 70% cash value on your LSO/LPO contracts
  • ~If you have an invoice yet to be paid, our Invoice Discounting offers up to 70% cash value
  • ~Access training and coaching through eHub and other non-financial services .
  • ~Access to other elev8HER products such as insurance packages with discounted premiums, and non-financial service package including access to eHub for free as above

 

Her Digital Loan (Women Pre-Approved Cash Loan)

 

Need quick cash? CB Konnect, our mobile banking app, gives you access to quick loans based on your transaction history with no security required.

 

What You Get

 

  • ~No collateral required
  • ~Access to other elev8HER products such as insurance packages with discounted premiums, and non-financial service package including access to eHub for free as above
Account Options

HER Personal Account features:

  • ~No Monthly Charges 
  • ~Minimum operating balance Kshs. 2000
  • ~Charges via Digital Channels apply

HER Business Account features:

  • ~Get unlimited access for a flat monthly fee of KES 500
  • ~No charges for Cheque Book

  • ~Access to a Visa Debit Card*

  • ~No minimum or operating balance
  • ~Charges via Digital Channels apply
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