Business Services

GES SACCO Products and Services

Business

BUSINESS SAVINGS

Business Call/Demand Savings Accounts

These are basic savings accounts that allow businesses to deposit and withdraw funds easily and frequently. They offer immediate access to funds for operational needs. Interest rates are typically lower than other savings products but provide flexibility.

Business Fixed Deposit Accounts

Businesses can deposit a lump sum for a fixed period (e.g., 3, 6, 12 months or longer) at a predetermined interest rate. These offer higher interest rates compared to call accounts but have penalties for early withdrawal. They are suitable for surplus funds that are not needed immediately.

Business Notice Savings Accounts

These accounts offer a higher interest rate than call accounts but require the business to provide a notice period (e.g., 30, 60, or 90 days) before making a withdrawal. This suits businesses that can plan their cash flow and withdrawals in advance.

Business Transactional Savings Accounts

GES SACCOs offer savings accounts specifically designed for business transactions, potentially with features like easy electronic transfers and linkages to other business services offered by GES SACCOS.

Group Business Savings Accounts

Tailored for registered business groups or associations, these accounts allow multiple members to contribute and manage savings collectively for business purposes.

Special Business Project Savings Accounts

Businesses saving for a specific future project (e.g., expansion, equipment purchase) can utilize these accounts. They might offer specific features or interest rates tied to the savings goal.

Business Development Savings Plans

GES SACCOS offers structured savings plans with regular contribution requirements aimed at helping businesses accumulate capital for growth over a defined period. These may come with bonus interest upon completion of the plan.

Tiered Interest Business Savings Accounts

Interest rates increase based on the balance held in the account, encouraging businesses to save more to earn higher returns on their larger balances.

Business Linkage Savings Accounts

These accounts might be linked to other GES SACCOS services, such as loan products, offering preferential rates or terms based on the savings relationship.

Business Investment Savings Accounts

GES SACCO might offer options that allow businesses to invest their savings in GES SACCO and GES Coop itself through shares or other investment instruments, potentially earning dividends in addition to interest on savings.

BUSINESS LOANS

Asset Financing for Business Use

GES SACCOS provide loans specifically for purchasing assets needed for a business, such as equipment, tools, or vehicles.

Order Financing and Working Capital Loans

For entrepreneurs with existing orders or short-term operational needs, GES SACCOs offer financing to bridge cash flow gaps.

Business Development Loans

These longer-term loans are intended for business expansion, purchasing property for business use, or undertaking significant projects to grow the enterprise.

Trade Finance (e.g., LPO Financing, Invoice Discounting, Order Finance)

These products help businesses manage their cash flow by providing financing against confirmed purchase orders (LPOs) or outstanding invoices. Invoice discounting allows a business to get an advance on money owed by its customers.

Group Lending

GES SACCOs offers loans to registered groups, where members co-guarantee each other's loans. This can enable access to credit for individuals who might not qualify on their own.

Emergency Business Loans

These are short-term loans designed to help businesses address unexpected financial needs or emergencies. They often have a faster processing time.

Business Credit Guarantees

GES SACCOs offer guarantees to help its members secure loans from other financial institutions, particularly if the member lacks sufficient traditional collateral.