Shiloh Microfinance Solution Ltd under SITCO Provision of Microfinance services to rural and urban based MSMEs

In spite of the growing Financial Inclusion in the country, many people have low access to Formal Financial Services. According to Fin scope Tanzania Only 4.4% were using Micro Finance/Saccos services in 2013. As a result there is low access to loan services too. In Tanzania, SMEs contribute to 27% of the GDP, employing more than 5.2 million people. However, majority of SMEs experience limited access to finance and effective use of financial products and services as major barriers to growth. The lack of access to finance by SMEs attributes to Financial Services Providers’ strict requirements like formal registration, collateral, credit history and lack of SME tailored products.
SHILOH Microfinance will work with financial sector stakeholders to drive innovative solutions that will increase access and usage of financial products and services among market traders in Tanzania. The target population for this project are rural and urban based Micro, Small and Medium Enterprises (MSMEs).