The Bank of Industry, BoI, has disbursed N48.44 million loan to beneficiaries of the Kaduna Start- up Entrepreneurship Programme.
The programme was designed by the Kaduna State government, the Kaduna Business School (KBS) and the BoI to empower aspiring entrepreneurs to be able to access various intervention funds.
The BoI Acting Managing Director, Waheed Olagunju,who spoke while presenting the cheque to the beneficiaries of the programme, said that those whose loans were approved were the candidates that met the bank’s Risk Acceptance Criteria (RAC).
While 25 entrepreneurs enlisted in the programme, only 15 graduates got loan cheques ranging from N2million to N5million.
Olagunju disclosed that the bank and KBS are guiding the remaining ten towards also meeting the laid down RAC.
“We are optimistic that most of them will eventually scale through and encourage others to complete their applications in good time so that they could also become beneficiaries,” he promised.
Apart from benefiting from other loan windows of the bank, successful small business operators would also have opportunities to leverage on existing N1bn matching fund.
