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BANKING & FINANCEBUSINESS & ECONOMY

Skye Bank Is Offering SMEs Millions Of Naira Support Loan

Skye Bank Plc has disbursed the sum of N50 million loan to Small and Medium Enterprises (SMEs)  under the Central Bank of Nigeria’s (CBN) Micro, Small and Medium Enterprises (MSME) intervention fund.

In a statement, the lender said business owners can access the intervention fund if they have a good credit record.

It stated that it is required of business owners to have a loan request above N5 million, and operate in any of the specified sectors such as manufacturing, education, agro value chain and renewable energy.

Commenting on the development, the bank’s Group Managing Director/Chief Executive Officer, Mr. Timothy Oguntayo, said that the lender would continue to partner with small business owners who are interested in creating value and contributing to the development of the country.

He said that beyond loans, Skye bank had put structures and modalities in place to make the SME sector the true driver of development by helping the operators to overcome their problems and grow their businesses through its sector-based seminar series (Skye Business Seminar) initiative to improve the financial, marketing and managerial skills of the business owners in partnership with affinity groups like BDSPs etc nationwide.

He assured all SME operators of the bank’s support to grow and expand their businesses, saying the lender’s SME support package takes care of all operators.

Under the scheme, loan beneficiaries pay a single digit interest on loan facilities granted them, and have a longer repayment period, unlike facilities from commercial banks, which attract higher interest rates.

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