Women enterprise solutions is a microfinance institution that is non-deposit-taking.
This institution solely empowers Kenyan women by mitigating the financial challenges they face in their businesses.
Therefore, the Women’s enterprise solution is to ensure women grow their wealth and rise above societal norms.
Moreover, WESO provides innovative, pro-poor credit options to enable women to start or expand their existing businesses.
As a result, women’s enterprise solutions offer women a wide range of loans. Let’s discuss in detail these loans below.
Related: How Women Enterprise Fund Works.
Types of Loans offered by Women Enterprise Solutions
The various loans that members of WESO get to enjoy areas listed below.
Imara Loan (Individual Loan)
The Imara loan is specifically developed to target individual women who own their businesses or have graduated from their group program.
As a result, one does not have to be a part of a group to access this loan.
2. Inuka loan (Business Inuka Loan)
The business inuka loan targets women running an enterprise together as a group. Say they have a group that deals with the making of seat covers. These women might want to increase production by buying a few machines to support their projects.
The women’s enterprise solution comes in to extend them a loan to buy these machines. In simple terms, this loan is developed to facilitate the purchase of working capital. These may include machinery and equipment, and farm inputs, among others.
3. Maendeleo/ Development Loan
Maendeleo loan is suitably developed to grow the women as individuals. Whether one would like to pay their school fees or those of their children, or if one would like to purchase a solar, buy water pumps and pipes, among other things.
4. Dharura/ Business Emergency Loan
sometimes one might receive an emergency order that needs immediate servicing; this loan will help facilitate all this. Ensuring that the customer’s order is delivered on time as promised.
5. Investment/Chama/Self-help Group Loan
All known self-help groups to women enterprise solutions receive this loan to finance their income-generating products.
What do I need to qualify for Women’s enterprise solutions loans?
- Must be above 18 years of age
- One can be already running a viable business or thinking of starting one
- Willing to be registered as a group member between 5 – 10 people
- Cooperate in group meetings and all affairs of the group.