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Barclays lures SMEs with collateral free loans

NAIROBI, KENYA: Barclays Bank of Kenya (BBK) has launched a financing model that will see small businesses that supply goods and services to large corporates take loans without collateral.

Through the financing model dubbed 'Enterprise and supply Chain Development (ESD) program, small and medium size enterprises (SMEs) will only be required to prove existence of valid contract with established corporates to access credit.

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