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Luthando Mapepa
Chipinge Correspondent
FINANCIAL institution, First Capital Bank, has urged Small and Medium Enterprises (SMEs) to invest their capital with banks of their choice to access loan facilities.
Speaking during the Chipinge District Chamber of SMEs lndaba early this week, First Capital Bank head of SMEs banking, Mr Farai Matsamwira said the bank has facilities aimed at empowering small businesses.
This came as hundreds of SMEs had said they are failing to access loans from banks due to lack of collateral security.
“Our clients, especially those in the SMEs, can access loans depending on the capital they invest into our bank.
“The loan is available without security. The only security we consider is the amount of deposits which SMEs would have injected into the bank,’’ he said.
Speaking during the same event, Manicaland Chamber of SMEs chairperson, Mr Moses Magura hailed the financial institution for creating capital linkages to SMEs.
“We are urging policy makers to continue opening a conducive environment for SMEs. Some laws must be amended so that SMEs are not treated like big corporates,” said Mr Magura.
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