Strategies for Accessing Credit by Small and Medium Enterprises:. Education & Professional Background, Group Lending, Information Access

      Аннотация: Despite their significant contribution to the economy, SME business owners continue to face enormous financial constraints. The majority SME business owners lack the requisite strategies in gaining access to credit to improve the profitability and growth of their businesses. The lack of adequate collateral and access to information limit SMEs from obtaining funds to sustain the growth of their businesses. Many SME business owners are unable to access credit because of the huge collateral demanded by banks as a condition for lending. Furthermore, lack of quality information hinders SME owners from making prudent credit financing choices for their businesses. In a nutshell, if SME business owners are educated, they are more likely to embrace group lending and effective use of information strategies to access credit to sustain their businesses. Therefore, this book will serve as a guide to SME business owners with financial constraints to make sound decisions on how to access credit to improve the growth and development of the sector. The book will also contribute to entrepreneurial literature to benefit current and future business students undertaking their research pursuits.

Ключевые слова: Access to credit, Collateral, Strategy, education, group lending, information access, Professional Background