Joseph has run a successful hardware shop for 10 years. He’s never missed a supplier payment. So why did the bank reject his 500,000 shilling loan application?
He applied for capital to add stock before the festive season. The officer looked at his plan, closed the folder, and said the bank would "not be able to support him at this time."
No reason given.
He asked a former bank credit officer to look at it. The officer found the problem in two minutes.
Joseph's projections showed the exact same profit every single month. December and January looked identical.
Anyone who has run a shop in Kenya knows they never are. December is full of money; January is school fees, slow sales, and rent due.
The credit officer saw those flat numbers and thought one thing: This person hasn't planned for the slow months. How will the loan be repaid in January?
Joseph wasn't a bad risk. His paperwork just wasn't speaking the bank's language.
He rebuilt his cash flow to show the dips, the buffer, and how repayments would continue even in a slow month. When he went back, the conversation was completely different.
Many business owners are turned down for the exact same reason, and never find out why.
If you'd like a second pair of eyes before you apply, send your plan over for a free review. We'll point out exactly where a lender is likely to push back.
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