Access to finance by small and medium scale enterprises from savings and loans institutions in the Kumasi metropolis
In today’s Global Economy, SMEs are the engine of growth and for that matter they must be funded and thereby the state or the government must put policies that will assist their growth by accessing funds from financial institutions or the banks with lower interest rate. The study aimed at finding out the type of credit used by SMEs from Savings and Loans Companies, other sources of credit accessed by SMEs in Kumasi, the major constraints faced by SMEs in accessing credit from savings and loans companies and to investigate to investigate the assessment criteria used by savings and loans companies in SME loan appraisal. There is evidence that savings and loans companies are making credit available to the entrepreneurs of small and medium scale enterprises. Prior to that inadequate credit was a major problem facing the Sector. There is the need in Ghana for our Universities in collaboration with the banks or financial institutions to educate the public about the importance of savings.
A Thesis submitted to the Department of Banking and Finance, Kwame Nkrumah University of Science and Technology in partial fulfillment of the requirements for the degree of Masters in Business Administration