In a significant move to bolster small and medium-sized enterprises (SMEs), Access Bank has announced the allocation of N50 billion for an ambitious intervention program. The program aims to provide financial support, training, and growth opportunities to deserving entrepreneurs across Nigeria.
Here are the key highlights of this groundbreaking initiative:
1) Low-Interest Loans: Access Bank will offer loans to SMEs at an attractive 15% interest rate. This move is expected to enhance access to capital for businesses seeking to expand or innovate.
2) Free Grants for Deserving SMEs: As part of its commitment to fostering economic growth, Access Bank will provide free grants to deserving SMEs. These grants will serve as a lifeline for businesses facing financial challenges.
3) Empowering 4 Million Individuals: Over the next four years, Access Bank aims to empower a staggering 4 million individuals. By providing financial resources and support, the bank seeks to drive entrepreneurship, job creation, and economic resilience.
5) Yearly Impact: The program will extend financial assistance to 700,000 entrepreneurs annually. These beneficiaries will receive the necessary backing to thrive in their respective ventures.
6) Training and Capacity Building: Beyond financial support, Access Bank will focus on training and capacity building. A total of 300,000 individuals will benefit from specialized training programs designed to enhance their business skills.
In a statement, the bank’s CEO, Mr. Johnson Adekunle, emphasized the importance of SMEs in driving economic development. He said, “Our commitment to SMEs goes beyond financial transactions. We believe in their potential to transform communities and contribute significantly to Nigeria’s growth story.”
This intervention program reflects Access Bank’s dedication to fostering an inclusive and resilient economy. As the bank continues to champion entrepreneurship, it remains committed to transparency and accountability in its operations.
Stay tuned for further updates as Access Bank’s intervention program unfolds. 🌟💼📈
Meanwhile, if you’re interested in accessing the intervention programme, check the comment section for link 👇
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