MyCredit Lands $3M Expanding Kenyan SME Credit Access

💼 Closing the Gap

• Small business owners in Kenya often get rejected by traditional commercial banks, leaving them with a massive credit gap.

• This is a big deal because these enterprises provide over 80% of all jobs in the country.

• MyCredit is stepping in to fix this liquidity crunch by getting cash into the hands of entrepreneurs who need it most.

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🛡️ How They Do It

• Their credit-scoring model uses alternative data to approve loans, which means businesses don’t always need traditional collateral to get a yes.

• So far, they’ve served over 10,000 customers and kept their loan book healthy, even through tough economic times.

• The secret sauce? They guarantee loan disbursement within 24 hours and focus on a community-first approach.

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📈 What’s Next

• The new capital will go directly toward helping business owners pay for inventory and daily costs.

• MyCredit is also planning to open more satellite branches to reach more people in person.