The purpose of this study was to determine the factors influencing credit
accessibility among small and medium entrepreneurs in Island Division,
Mombasa County. The study was guided by the following four research
questions: (i) what are the sources of credit available to men and women SMEs in
Island Division, Mombasa County? (ii) What factors influence credit access to
men and women SMEs in Island Division, Mombasa County? (iii) What
challenges do men and women SMEs face in accessing credit in Island Division,
Mombasa County? and (iv) What strategies could be put in place to enhance
credit access for men and women SMEs in Island Division, Mombasa County?
The study applied women empowerment framework by Sara Hlupekile Longwe.
According to this framework, men and women do not have same access or control
over productive or benefits accruing from them. The descriptive survey design
was used in executing the study. Stratified sampling was utilized in selecting the
respondents for the study. Interview schedules and questionnaires were the main
data collection instruments for the research. Data were analyzed quantitatively
and qualitatively guided by research objectives and research questions. Findings
are presented thematically in form of narratives, frequency tables and percentages.
The study found that banks and micro finance institutions were some of the
institutions that offered credit to SMEs in Island Division. The study findings
indicate that loan acquisition is highly influenced by personal savings and
business assets and/or stock. However, there were challenges facing SMEs in
credit acquisition; these include gender inequalities in control of resources, lack of
collateral, high interest rates, Islamic religious practices, lack of information on
loan qualification criteria and women being asked to bring their
spouses/identification documents. The study found that credit access could be
enhanced by improving terms and conditions for SMEs including fair interest
leading to empowerment and participation of women in economic development of
the country. The study concludes that gender disparities affect credit access
between men and women SMEs. The study recommends that there is need for
credit officers to sensitize SMEs on the opportunities that are available to secure
funding for their business; credit institutions should also review terms and
conditions to allow people from different faiths access credit equitably.
KANUNDU, E (2021). Factors Influencing Access To Credit Facilities Among Small And Medium Entreprenuers In Island Division, Mombasa County. Afribary. Retrieved from https://afribary.com/works/factors-influencing-access-to-credit-facilities-among-small-and-medium-entreprenuers-in-island-division-mombasa-county
KANUNDU, EUNICE "Factors Influencing Access To Credit Facilities Among Small And Medium Entreprenuers In Island Division, Mombasa County" Afribary. Afribary, 27 May. 2021, https://afribary.com/works/factors-influencing-access-to-credit-facilities-among-small-and-medium-entreprenuers-in-island-division-mombasa-county. Accessed 02 Oct. 2023.
KANUNDU, EUNICE . "Factors Influencing Access To Credit Facilities Among Small And Medium Entreprenuers In Island Division, Mombasa County". Afribary, Afribary, 27 May. 2021. Web. 02 Oct. 2023. < https://afribary.com/works/factors-influencing-access-to-credit-facilities-among-small-and-medium-entreprenuers-in-island-division-mombasa-county >.
KANUNDU, EUNICE . "Factors Influencing Access To Credit Facilities Among Small And Medium Entreprenuers In Island Division, Mombasa County" Afribary (2021). Accessed October 02, 2023. https://afribary.com/works/factors-influencing-access-to-credit-facilities-among-small-and-medium-entreprenuers-in-island-division-mombasa-county