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Best bank for a small,Growing business

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ali		#1 Posted : Monday, June 22, 2009 4:00:00 AM
Rank: Veteran Joined: 6/11/2008 Posts: 892		Morning Team I am looking for the best bank for an SME account. I would like a bank that will be able to support me grow my biz after like 6 months of faithful banking with them I am told Equity or Barclays Anyone who knows if KCB or Stanchart have such an account Which would offer me the best service,product or loans and support to grow into the big league? Thank you in advance Jesus,make me a blessing to my family and my country Kenya For in him (Jesus) we live and move and have our being-Acts 17:28
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Brendah		#2 Posted : Monday, June 22, 2009 9:05:00 AM
Rank: Member Joined: 6/22/2009 Posts: 5		You could try Fina bank. They have a good SME account though their interest rates on loans are abit high. www.peakanddale.com
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Djinn		#3 Posted : Monday, June 22, 2009 9:29:00 AM
Rank: Elder Joined: 11/13/2008 Posts: 1,565		I swear by Equity. Go for Equity. The problem with equality is that we desire that it be with those that have more than us rather that those that have less
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willin2learn		#4 Posted : Monday, June 22, 2009 12:50:00 PM
Rank: Veteran Joined: 2/12/2008 Posts: 1,178		@Ali, you need to be more specific. Are you looking for an SME account or SME loan. If the later i just know virtually all Banks will require you to have operated an account with them for over 6 months to allow for financial analysis. Other than EB,Barclays and CBA,you can also try Coop Bank. Interest rate @ 16.75% on reducing balance Max. tenor 5 yrs Loans of upto 10 m Happy hunting
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Pablo		#5 Posted : Monday, June 22, 2009 2:58:00 PM
Rank: Member Joined: 3/17/2008 Posts: 567 Location: Nairobi		Boss,I dont know about barclays but for sure I know Kcb is very friendly to SME's. Be greedy when others are fearful,be fearful when others are greedy.
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Silk		#6 Posted : Monday, June 22, 2009 7:05:00 PM
Rank: Member Joined: 8/25/2008 Posts: 144		Kcb are currently popularising their Sme account. Walk into any of their branch and pick a fliar. Can't remember whether it's Mavuno a/c or what. Life is too short.
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Marash		#7 Posted : Tuesday, June 23, 2009 5:54:00 AM
Rank: Member Joined: 7/1/2008 Posts: 13		Try Family Bank,they have good affordable products as long as your turnover is good.
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premio		#8 Posted : Tuesday, June 23, 2009 5:04:00 PM
Rank: Member Joined: 5/31/2009 Posts: 226		Be specific what kind of support,cash loans,asset finance,bond guarantee or what. Stanchart is my bank but strike them of the list they want a non movable asset for security like a house evn if u bank 1m a week. If your monthly turnover is below 100k Barclays wont even stare at you they want your deposits but ukitaka loan they will be very useless unless uko na payslip. The best banks are KCB/CFC if u have a good turnover and family bank or Equity even if u bank 50k a month. My 50 cents go for family bank they are really supportive. Dont just bank maintain a healthy balance that should grow with time . They make the credit analyst think u r doing better with time and utapata that form eti we are pleased to inform you that your apli.......has been ...aprro...GD luck
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nyari		#9 Posted : Wednesday, June 24, 2009 4:59:00 AM
Rank: Member Joined: 11/13/2006 Posts: 94		I'd also go with Family,I've been with them for so long they should probably be paying me. These guys are very flexible and understand 'your' business,but be sure they'll visit your place of business to check you out When evaluating a bank; look at how well they treat you and who their clientele is. In most cases if you're small and starting out the big banks won't even look at you. CFC is also good but their interest rates are horrendous. Went there for Asset financing and although they approved my application I rejected it based on the rate. Happy hunting
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Sasha		#10 Posted : Wednesday, June 24, 2009 5:56:00 AM
Rank: Veteran Joined: 9/5/2007 Posts: 627		Auuuuuwwiiiiii! Please ignore everyone telling you to go to CfC! I feel like killing anyone who suggests that they are good! That is the most useless bank ever! That's ofcourse after they merged with Stanbic! All decisions are made is SA! They harass me for 2 years to get an overdraft coz my turnover is good! I reluctantly apply and start planning to expand the business! 9 months down the line, a decision had not been reached! I closed my account and moved to KCB who were very friendly! Please also avoid Barclays! They get very suspicious if you have a windfall! Refer to yesterdays Nation about the guys whose account was frozen with Kshs 13m ati because they 'needed to understand where the money came from'! Immorality: The morality of those who are having a better time!
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