ACCESS TO FINANCIAL CREDIT PRODUCTS AND ITS INFLUENCE ON ENTREPRENEURIAL PERFORMANCE AMONG MICRO AND SMALL ENTERPRISES IN KERICHO COUNTY, KENYA.

Abstract

Financing includes all initiatives directed towards making formal financial services available and accessible. Researchers have argued that lack of financing is almost universally indicated as a key problem for micro and small enterprises. The study was guided by the following objectives: to establish the influence of financial access and financial credit products on entrepreneurial performance among micro and small enterprises. The study adopted a cross sectional survey design from a population of 7277 micro and small enterprises from which a sample of 380 were given questionnaires. SPSS version 25 was used in data analysis. The research concluded that repayment period for loans was not flexible even after top up or second facility. Micro and small enterprises need guarantors to access financial credit facilities. The study recommended that financial institutions ensure they are serving and coming up with credit facilities tailored to the needs of micro and small enterprises in Kenya.