Chase Bank Kenya, Chase Woman, Entreprenurs

Chase Woman

Chase Woman Offers Affordable Lending Rates for Women Entrepreneurs.

5 May , 2015  

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Financial constraints are known to be an age old challenge for entrepreneurs and are deemed to represent one of the highest barriers for businesses looking to start up and grow. It becomes an even bigger issue for women entrepreneurs because according to a report by IFC, the average growth rate of women’s enterprises is significantly lower than the average growth rate for SMEs run by men. A number of factors have been investigated as contributing to the slow growth of women-owned businesses, such as;

  • Lack financial capability and confidence to manage their finances thus impeding them from being in a position to take advantage of opportunities.
  • Lack time due to their important role in the household and mobility in order to interact with financial service providers.
  • Being in a weaker position to take on funding for their Micro enterprises and SMEs as traditions and cultural rules combined with a lack of property rights can discriminate against them in terms of access to property.
  • Lack of sufficient assets that can be accepted as collateral. 

In 2014, Chase Woman sought a lending partnership with IFC (International Finance Corporation) through which a loan of $25M was approved for Chase bank. And the first tranche of $15M was disbursed. The purpose of the loan is to empower women by lending affordable loans, while also growing the portfolio of SMEs in the bank.

It will enable more investment groups to be formally registered as limited liability companies, and propel their investments. The loan is available to any woman entrepreneur banking with Chase Bank. The loan amount that can be borrowed ranges from $10,000 which is KES 900,000 minimum to $1,000,000 which is KES 90,000,000 maximum.

The eligibility for the loan is on condition that:

  • The business has over 51% female ownership.
  • The business has over 20% female ownership and either;
    • One female occupies a senior executive role e.g. CEO/COO/Vice President and other similar roles or
    • There is greater than 30% female membership on the board of directors.
  • A limited company investment group with 100% female membership.
Chase Bank Kenya, Chase Woman, Entreprenurs

Lending Products available through Chase Woman.

Are you a woman entrepreneur interested in getting access to these funds? Share with us your details below and a Chase Woman representative will get in touch with you to guide you through the application process.

Your Name (required)

Your Email (required)

Do you have a Bank Account with Chase Bank (required)

Other Details (E.g Phone Number, Name and Nature of Business)

Read more about Chase Woman here

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Always sharing stupendous tidbits. Lifestyle blogger. Sucker for content that builds. Aiming to inspire, impact or influence someone.

5 Responses

  1. […] on AM Live, NTV. Hosted by Sheila Mwanyigha. They were talking about women in entrepreneurship and access to funds. To watch the video, click this […]

  2. […] The International Finance Corporation estimates that in Kenya, Micro, Small and Medium Enterprises (MSMEs) experience an annual credit gap of over US$6 billion. This impacts a company’s ability to access finance and to compete with international companies. […]

  3. […] Funding mechanisms that are put in place to make sure that the youth have access to all the resources that they need for their entrepreneurial journey. Youth should have access to starting capital and operating capital for starting and running small businesses. The government has stepped in with the Youth Fund, and financial institutions such as Chase Bank with the IFC Loans. […]

  4. […] established female entrepreneurs who wish to participate in conversations on growth opportunities, access to capital and strategies for helping women run businesses excel. We will also share our funding portfolio […]

  5. […] Chase Woman Offers Affordable Lending Rates For Women Entrepreneurs. […]

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