How to improve your creditworthiness

Being credit-worthy means that you can receive a loan and you have the capacity to pay it back. [iStockphoto]

Loans are a great way to raise money for various needs, such as starting a business, purchasing assets or dealing with an emergency.

However, a 2021 report dubbed "SME Access to Financing" by a consulting firm, Wylde International revealed that in the last three years at least 45 per cent of Small and Medium Enterprises (SMEs) in Kenya were denied loan facilities.