Faulu Bank has revamped its product suite to empower Small and Medium Enterprises (SMEs) to navigate the challenging economic landscape.
Recognising the rising costs and evolving needs of SMEs, the bank has introduced a range of enhanced offerings across key areas:
Business Lending
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- Expanded working capital financing options.
- Enhanced asset financing solutions for equipment and machinery.
- Streamlined trade finance solutions to support import/export activities.
Transaction Services
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- Competitive SME current accounts with optimized fee structures.
- Seamless customer payments facilitated by Faulu Merchant Pay bills.
- Robust cash management solutions for efficient financial operations.
Savings & Investment
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- Attractive SME savings accounts with competitive interest rates.
- Access to the Faulu Money Market Fund for high-yield investment opportunities.
Digital Banking
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- 24/7 accessibility through online and mobile banking platforms (Faulu DigiCash App).
- Facilitated instant payments and transfers for improved operational efficiency.
Insurance Solutions
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- Comprehensive business insurance coverage, including protection against theft, fire, and liability.
- Employee benefits packages encompassing health and life insurance.
Advisory & Capacity Building
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- Enhanced financial literacy training programs for business owners.
- Specialized advisory services on credit management and business growth strategies.
Faulu Bank CEO, Julius Ouma, emphasised the importance of a holistic approach to supporting SMEs, stating, “Access to finance, affordable funding options, and sound investment advice are crucial for SME success. By equipping them with the necessary tools and resources, we empower them to navigate challenges and drive economic growth.”