Tala today announced the launch of the Ksh 605Million COVID-19 Rebuild Fund to bolster Kenyan businesses and communities.
The Fund, which Tala plans to grow through additional funding and partnerships, will prioritize existing Tala customers as well as Tala businesses that provide essential services to their communities. Eligible customers will be invited to apply for the Fund’s first new product, a 0% fee, 6-month Community Support Loan of Ksh. 30,000, designed to support businesses that are helping Kenyans recover and rebuild.
“We believe small businesses are the backbone of the Kenyan economy. Businesses, and business owners, who provide essential goods and services to their broader communities will help Kenyans survive this crisis and will be on the front lines leading efforts to rebuild,” said Ivan Mbowa, General Manager, Tala Kenya.
We want to give those businesses the ability to get a head start in helping communities recover and rebound. That’s why we are offering select business owners 0% fee Community Support Loans with extended tenures.”
All Tala customers who run a business that is providing essential support to their community are invited to apply for a Community Support Loan. Tala will be prioritizing loans for businesses that provide the necessities a community needs to cope with a crisis, such as food, water, health & medical services, critical household supplies, education, and logistics related to these services.
“By investing in entrepreneurs and small businesses we can multiply our impact, and we believe supporting small businesses is the best way to contribute to reviving communities and local economies. But this is just the beginning for the Rebuild Fund. We are constantly evaluating additional ways to support customers and their communities by providing timely tools and assistance,” said Mr. Mbowa.
We continue standing with Kenyans and our customers, believing that we will overcome and emerge out of this crisis tested but ultimately more resilient,” he added.