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$100,000 capital for SMEs up for grabs

The Trade and Development Bank (TDB) has extended an opportunity to women and the youth to access capital finance of over $100,000 to develop and grow their businesses.

This follows an announcement the bank made recently that it intends to establish a product for Small and Medium Enterprises (SMEs) in all the countries it operates in.

TDB offer s trade finance services designed for entrepreneurs carrying out trade activities that drive the economies of the sub- Saharan region.

Making the announcement in Lilongwe, the bank’s Director, Gloria Mamba, said that TDB is casting its net to also embrace SMEs apart from the large corporates, who already benefit from the bank’s products.

“The focus of the SMEs programme is to reach new clients with our services that, previously, we were not able to reach. Our client base is significantly larger in size and scope and so, we hope to be able to serve a market that is looking for up to $100,000 to expand their trade facilities.

“We are looking particularly to reach groups that were previously marginalised, including women, the youth and others,” Mamba said.

She said the bank is currently evaluating proposals some SMEs submitted for potential funding.

SMEs in the country have over the years been complaining of lack of access to cheap finance to grow their businesses coupled with challenges emanating from a tough operating environment

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