Why Business Credit Matters
When you have good credit, banks and SACCOs compete for your business. When you do not, you are left with expensive alternatives.
How to Build It
Start with a formal business
Register your business, get a KRA PIN, and open a business bank account. Formalization is the first step toward credit.
Borrow small and repay on time
Take a small loan — even a mobile loan — and repay it strictly on schedule. This builds a repayment history.
Keep records that prove your income
M-PESA statements, bank statements, sales records, tax returns — these are the evidence lenders look at.
Join a SACCO
SACCOs are often more accessible than banks for MSMEs. Regular savings build both your record and your relationship.
Be patient
Credit is built over months and years, not days. Consistency beats shortcuts.