In a bid to address the financing challenges faced by small and medium-sized enterprises (SMEs), Kenyan fintech companies Pesapal and Sokohela have joined forces to introduce a new loan product. This partnership aims to provide fast and flexible financing solutions for SMEs that struggle to access credit through traditional financial institutions.
The facility offered by Pesapal and Sokohela brings several advantages for SMEs. It includes digital scoring, approval, and disbursement of loans, eliminating the need for collateral or guarantors. This streamlined process enables SMEs to access funds quickly and easily, empowering them to grow and thrive in a competitive business landscape.
Pesapal, a licensed startup specializing in online payments across Africa, brings its expertise in digital financial services to the partnership. Sokohela, on the other hand, focuses on providing short-term working capital to SMEs in the urban agricultural value chain through its online platform.
By combining their strengths, Pesapal and Sokohela seek to bridge the financing gap that many SMEs face. Access to timely and flexible financing options can enable these businesses to expand operations, invest in new opportunities, and navigate economic challenges more effectively.
This partnership represents a positive step in promoting financial inclusion and supporting the growth of SMEs in Kenya. As the digital economy continues to evolve, innovative collaborations like this are crucial in fostering a more accessible and supportive financial ecosystem for businesses of all sizes.