Hundreds of young people who turned up for season eight of the Men’s Business Convention initiative, were tipped on the importance of financial management and record keeping.
The three-day training, which was held at Victory Church Ndeeba on Saturday, sought to promote a culture of mentorship among young men in the business space.
Themed: “The hands-on experience,â€ the initiative focused on providing young entrepreneurs with the knowledge, skills, and abilities to improve how they operate their businesses aiming at beating losses. 
The Executive Director of Diamond Trust Bank-DTB, Maina Kariuki, said young entrepreneurs should always first evaluate their business cash flows before taking loans. He said many people didn’t have the knowledge on how to run enterprises and whether they actually needed the money they are borrowing.
He emphasized double-checking the capacity to repay the loan, the contribution to the business, security coverage, the character in terms of integrity or creditworthiness, and the viability of the business in the environment.
Kariuki also opined on looking out for banking covenants once loans are approved to avoid misunderstandings once the payment grace period elapses. Some of the covenants include period, disbursement covenants, collateral required, insurance costs, and annual returns submissions, among others.
