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Livingstone Njoora

Masters Student, Jomo Kenyatta University of Agriculture and Technology, Kenya

Dr. Teresia Kyalo

Lecturer, Jomo Kenyatta University of Agriculture and Technology, Kenya


Microfinance refers to financial services, such as credit and savings which give people an opportunity to borrow and invest. Microfinance institutions have contributed quite a lot to the Kenyan economy by creating employment opportunities, training entrepreneurs, generating income and eventually reducing poverty by financing various businesses owned by low income households. This study looks at the effects of credits advanced to the SMEs in Ngong by considering 33 respondents who were selected by stratified sampling techniques based on the type of microfinance institution. Descriptive research design was used in the study. Questionnaires were used as the main instruments of data collection. The data collected were processed and analyzed using statistical package for social science (SPSS), and the findings were presented using charts and tables. The study results revealed that the amount granted was adequate and necessary for SMEs. The results further revealed that loans advanced contributed to the growth of the businesses and also led to employment creation. Since credit was found to influence growth among the SMEs, the MFI should provide more formal credit facilities under favorable conditions along with training on financial management.

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