SBM Bank’s Jijenge Biashara Savings and Loan account provides small and medium enterprises (SMEs) in Kenya with a unique way to save while accessing credit.
The program targets traders, manufacturers, schools, hospitals, pharmacies, and import/export businesses, supporting SMEs in planning for growth, managing cash flow, and leveraging opportunities.
In addition to savings and loan benefits, participants also gain access to merchant shortcodes, bulk payment solutions, Pesalink, online banking, ITax payments, and competitive forex rates.
The product allows businesses to borrow up to twice the amount they have saved, while earning 5% interest per annum on their deposits.
For instance, a business with Ksh1 million in savings can access a Ksh2 million loan.
Loan repayment periods range from 36 to 48 months, depending on the loan size, with a lien on the savings account serving as security.
Who is Eligible and the Loan Range
The account is open to businesses structured as sole proprietorships, partnerships, or limited companies.
Applicants must have been operating in Kenya for at least 3 years and must provide supporting documents, such as audited accounts or bank statements.
The loan amount ranges from Ksh500,000 to Ksh100 million, subject to a cap of three times the average monthly account credit turnover over the past 12 months.
The maximum loan is also limited to twice the deposits held in the Jijenge Biashara savings account.
Customers may qualify for a loan top-up after servicing at least half of their current loan tenure or facility.
To qualify for the loan, businesses must maintain stable cash flows, demonstrate consistent account turnovers (not declining by more than 25% in the past 90 days), and have a positive CRB report.
The program has no processing fees, making it an accessible financing option for SMEs seeking to expand, manage cash flow, and capitalize on business opportunities.
Why Choose SBM’s Jijenge Biashara Savings Account
Here’s why the Jijenge Biashara Savings Account is perfect for your business:
- Access Discounted Loans: Grow your business with financing offered at preferential rates, helping you manage operations smoothly.
- Earn Attractive Interest: Enjoy monthly interest payments credited directly to your account, boosting your savings effortlessly.
- Simple Account Management: Manage your account with ease—no monthly fees and no minimum deposit required to open.
- Multi-Currency Flexibility: Operate your account in KES, USD, EUR, or GBP to suit your business needs.
- Easy Withdrawals: Access your funds anytime at any SBM branch or via Mfukoni Mobile and Online Banking, including transfers to your M-PESA number.
Here is a simple breakdown of SBM Bank’s Jijenge Biashara savings and Loans Account:
| Feature | Details |
| Target Customers | SMEs in Kenya: traders, manufacturers, schools, hospitals, pharmacies, importers, and exporters. |
| Eligible Business Types | Sole proprietorships, partnerships, limited companies operating in Kenya for at least 3 years. |
| Savings Interest | 5% per annum on the Jijenge Biashara savings account. |
| Loan Limit | Minimum: KES 500,000
Maximum: KES 100 million, capped at 3x average monthly account credit turnover or 2x deposits in savings account. |
| Repayment Period | Loans ≤ KES 10M: up to 36 months
Loans > KES 10M: up to 48 months |
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