Dealing with dwindling income during COVID-19 By Sumac Media TEAM You may be worried about falling into financial difficulties during this difficult Covid-19 period. For example, if your income drops due to coronavirus restrictions or you incur unexpected expenses, you may find you don’t have enough to cover your usual outgoings. Sumac Microfinance Bank CEO […]
16
Apr
Apr
In the end, we shall win this war By Sumac Media TEAM The outbreak of the novel coronavirus has threatened the whole world. Started in China, the pandemic has expanded its footprint across the globe in a short period of time. This rapidly increasing outbreak has induced governments around the world to take strict preventive […]
16
Apr
Apr
Strategy is critical during pandemic By Sumac Media TEAM The news is dominated by details of the COVID-19 pandemic. New, conflicting information is available daily. The number of confirmed cases continues to grow, as does the number of countries affected. The impacts on human health and the ultimate scale of the crisis are still being […]
09
Apr
Apr
A survival plan for small businesses during Covid-19 pandemic By SUMAC Media Team There’s no doubt that small businesses will be the hardest hit from the current COVID-19 pandemic. The bigger businesses have a better chance of surviving; however, small businesses tend to live only with a few months of cash flow (at most), so […]
09
May
May
WHY FARMERS NEED AGRI-BUSINESS LOANS TO GROW Farmers in Kenya can only be successful if their businesses are financially sound. Most farmers struggle in our economy because of lack of available credit in the form of agribusiness loans. The truth is that without these loans, it is almost impossible to independently succeed. Agribusiness loans go […]
09
May
May
HOW TO GROW YOUR START-UP INTO A SUCCESSFUL ENTERPRISE Launching a business can be a terrifying thing. Most of the time the risks are huge, and but the only guarantee is a whole lot of hard work and time away from family. But, you know what? A successful business that is rapidly growing is no […]
09
May
May
SAVING 101 FOR NEW INCOME EARNERS Most of us want to save money so we can build wealth and plan for the future. We have goals we want to reach or things we want to buy, like a dream home. However, this can seem impossible when you’re surviving on low income or you’re a new income earner. According […]
09
May
May
MONEY IS GOOD, USE IT WISELY A lot of people get money. Unfortunately, not everyone gets big money. Majority of people we interact with as Sumac Microfinance Bank are the ordinary citizens who find it even harder to get an extra coin out of their income to save. In essence, there isn’t enough to go […]
09
May
May
THE CASE AGAINST HIDDEN BANK CHARGES In Kenya, many are the times clients are not specifically advised on all the requirements, especially the charges that might be levied at the bank for various transactions. There are numerous cases and stories of disgruntled clients who are unhappy about the fact they were never informed about certain […]
09
May
May
WHY YOUR LOAN APPLICATION MAY BE APPROVED OR DENIED Whether you are applying for a mortgage, a credit card, or a car loan, banks and credit unions are going to be looking for the same thing–how much risk they will take on if they approve your loan. They want to know if they will risk […]