Article : Financing SMEs: An Investigation Into The Preparedness And Willingness By Zimbabwean Financial Institutions: The Case Of Bulawayo

Title

Financing SMEs: An Investigation Into The Preparedness And Willingness By Zimbabwean Financial Institutions: The Case Of Bulawayo

Author

Kendra Gangata, Ephraim Hudson Mazvidza Matavire

The study sought to find out the extent to which the Zimbabwean financial institutions were prepared and willing to financially assist SMEs. A case study of Bulawayo was undertaken. It was found that most of the institutions were prepared, with the majority having departments dedicated to serving SME financial needs. However problems were encountered in that most SMEs did not meet the lending requirements of the financial institutions, mainly because of lack of financial statements, as well as inadequate collateral security. Appropriate recommendations, including education of SMEs and the keeping of up to date accounting records and preparation of financial statements by SMEs were made.

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