Businesspeople in Busia County have been urged to ensure they understood the terms of the loans before borrowing.
Speaking during a client education forum in Busia, Patricia Nalianya from Demulla, a money lending organisation, said understanding the requirements and need of a loan will help the businesspeople to expand their businesses. "Business people should consider the interest rate of the loan, the amount of money to be taken, and the timeline and pattern of the loan repayment.
This will enable them to apply for loans that will help them to expand their business," she said.
Nalianya also highlighted the importance of compliance with the law and regulation, as this will help in making their business credible. 'A compliant and registered business is likely to be credited, unlike non-compliant.
