Good news for SME’s as the industrial and commercial development corporation (ICDC), has slashed its cost of loans to 3.0% above the CBR central bank rate, and one percent below the rate set by commercial banks. From 1^st November 2016, interest on loan facilities will be charged at 13% on average which is 1% below the current commercial banks’ lending rate. The move is meant to help young businesses and entrepreneurs at various stages of their business cycle to spur growth by leveraging on the medium and long term loans offered by ICDC. According to the state-owned development finance institution, its board had resolved to review the cost of loans after president Uhuru Kenyatta assented to law, the banking amendment act 2015 that caps lending rates at a maximum of four percentage points above the CBR which is currently at 10%.