MICROFINANCE LOANS AND PERFORMANCE OF SMALL AND MEDIUM SIZE ENTERPRISES IN LIRA CITY, NORTHERN UGANDA
MICROFINANCE LOANS AND PERFORMANCE OF SMALL AND MEDIUM SIZE ENTERPRISES IN LIRA CITY, NORTHERN UGANDA
Magdalene Akite[1],Judith Akello Abal[2], Bonny Charles Opio[3]
*Corresponding author E-mail: (judithakello@yahoo.com)
[1] Magdalene Akite, EMBA Graduate- Department of Commerce and Business Management, Lira University, P.O Box 1035, Lira-Uganda Part-Time Lecturer- All Saints University Lango (ASUL) P.O Box 32, Lira, Uganda
[2] Judith Akello Abal (PhD), Senior Lecturer and Head of Department-Commerce and Business Management, Lira University, P.O Box 1035, Lira-Uganda
[3] Bonny Charles Opio, Assistant Lecturer and Head of Department-Economics and Statistics, Lira University, P.O Box 1035, Lira-Uganda
| A R T I C L E I N F O
Article Type: Research Received: 22, May. 2022. Accepted: 22, May. 2022. Published: 13,August . 2022.
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A B S T R A C T
The study examined microfinance loans and the performance of small and medium size enterprises (SMEs) in Lira City. Data was collected using questionnaires and interviews and the design used was causal research designs using qualitative and quantitative approaches. The results showed that there was low Level of loan accessibility and performance by the SMEs. The study concludes that Microfinance loans contribute to performance of SMEs. Microfinance Institutions should increase provisions of non-financial services, revise policies on loan period and increase amount of loan given to SMEs to enhance entrepreneurial capability, savings and insurance so as to improve on their performance. |
| Keywords:
Microcredit, Finances, SMES, Business growth, Productivity |
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