Traders and business people seeking to expand and grow their enterprises have been urged to take advantage of Fortune Sacco loans being offered at 14%, the lowest in the market.
While some commercial banks are charging interets rates on loans up to a high of 24%, has the unbeatable rate of 14% the most competitive in the market.
The Chief Executive Officer (CEO) Mr Amos Kimotho said Fortune Sacco is currently offering the best rates in the market and has seen the uptake of business loans go up because of its friendly terms.
He said to process a loan at Fortune Sacco takes between two to five working days making it a perfect solution for business people and traders seeking efficient funding for their businesses.
“Business people have come to appreciate our rates and short turnaround time and this has resulted in an increase in uptake of the loans. We have seen tremendous growth not just on the loan uptake but also on the businesses we are supporting,’’ said Kimotho.
He urged traders to take advantage of the low interest rates, saying they have a system that ensures that loans are processed in record time.
Kimotho said being a deposit taking Sacco they also have the best offering on loans because they multiply them by a factor of five to the deposit.
“Unlike the traditional Sacco’s that give you a loan three times the deposit, Fortune Sacco offers the loan five time the deposit, making it even friendlier,’’ he said.
He said they are refocusing Fortune Sacco to be able to support Small and Medium Enterprises (SMEs) better, because the SME sector is currently the one driving the economy.
Kamath said Fortune Sacco, having been entirely rooted in the Agricultural sector, has decided in its strategic growth to make SMEs a major component of its business.
He said it already has branches within the Nairobi Metropolis that are supporting SMEs and the reception has been an eye opener.
