By Peter Egwuatu
Advans La Fayette MFB Limited, a leading microfinance bank supporting small businesses, and a member of Advans Group, has launched education loan products to assist school owners and parents respectively to run their schools and pay school fees with ease.
The new products are Advans Boost, comprising of Advans School Boost and AdvansEduloan.
Advans School Boost is designed to provide working and investment capital for school owners while Advans Eduloan is to assist parents to pay their children’s school fees with ease.
Advans Kiddies is a high-yield savings account designed to help parents save towards the future of their children while still earning interest.
Speaking at the product launch and stakeholders’ engagement in Lagos, the Managing Director, Advans La Fayette MFB Limited, Gaëtan Debuchy, stated: “We recognized that lack of finance is one of the biggest banes of education. Emboldened by the fact that investment in quality education yields the best dividend, we created these products to offer solutions to the challenge. As a leading microfinance bank, we are focused on providing premium financial services to our customers.”
The Project Manager, Advans La Fayette MFB, Fanny Belhomme, explained further, “Advans School Boost allows school owners to access loans up to 75 million naira to cover school expenses. The loan has a very competitive interest rate, a flexible repayment plan and no hidden costs. “Parents can access up to N500,000 with the AdvansEduloan, to pay their children’s school fees. The loan is easy to access, with a low-interest rate and flexible repayment plans”, she added.