Financial Leverage And Loan Repayment Among Small And Medium Sized Enterprises In Kakamega County, Kenya

ABSTRACT Small and Medium sized enterprises (SMEs) are considered important in both developed and developing countries. Due to increased level of unemployment in Kenya, many individuals have engaged in Small and Medium Enterprises as source of employment. Given the status of the business environment where the competition is intense, SMEs need adequate financial resources to survive. To meet their financial needs, SMEs have sought financial leverage from financial institutions such as commercial banks, SACCOs, micro financial institutions, self-help groups, mobile money and others. Despite the…