For small and medium-sized enterprises to improve their chances of accessing funds, they need to present proposals that are rich and convincing for banks to fund, the Bank of Industry has said.

According to the statement, Managing Director, Ms Evelyn Oputu, while regretting the difficulty most SMEs face in their quest to secure funding for their businesses, said many entrepreneurs were not adequately equipped with the necessary information needed to secure loans. She said some, who had approached the bank in the past, were not even aware of the mandate and objectives of the BoI.

SMEs need better proposals to access funds –BoI