By Juliet Umeh

Loma Bank has partnered Liberty Hub to expand access to financial services for over 11,000 entrepreneurs and small businesses operating within Nigeria’s informal economy.

Under the partnership, Loma Bank will provide the financial infrastructure supporting Liberty Hub’s growing network of entrepreneurs and SMEs, enabling access to services such as digital account opening, payments, cooperative savings, lending, insurance and payment cards within the Liberty Hub ecosystem.

The two organisations said the collaboration is aimed at simplifying financial access for entrepreneurs who often face challenges securing formal banking services due to limited documentation, lack of collateral and insufficient credit history.

Liberty Hub operates an enterprise support platform that connects entrepreneurs and SMEs to funding opportunities, business information, technology solutions, training and market access. Through its cooperative-based model, the platform aggregates small businesses into organised networks that are easier to support financially and operationally.

Speaking on the partnership, Ayomide Olupitan said the collaboration aligns with Loma Bank’s mission to deepen financial inclusion and strengthen support for underserved businesses across the country.

According to him, many entrepreneurs in Nigeria remain excluded from formal financial systems despite operating viable businesses.

He said: “What Liberty Hub has built is a trusted ecosystem with real economic activity, and we are excited to provide the banking infrastructure that helps these businesses grow sustainably.

“This partnership is about more than accounts and loans. It is about creating financial identity, improving access to opportunity, and helping informal businesses become more structured and scalable.”

Also speaking, Perk Elijah described access to affordable and reliable finance as one of the biggest challenges facing entrepreneurs in Nigeria’s informal sector.

He said: “We partnered with Loma Bank to close the credit and financial access gap for Nigeria’s informal sector.

“Many of our subscribers run viable businesses but are excluded from formal banking due to lack of collateral, credit history or documentation.

“Loma Bank’s digital-first, risk-based lending model aligns with our cooperative structure, making it possible to serve these entrepreneurs safely and at scale.”

According to Liberty Hub, the partnership is expected to support faster loan approvals, lower interest rates and seamless access to financial services through its platform, helping to reduce operational barriers for entrepreneurs and small business owners.

The company added that the collaboration would strengthen its capacity to move beyond community building and marketplace support by integrating financial backing into its ecosystem.

For Loma Bank, the partnership provides access to a growing network of verified SMEs and cooperatives across Nigeria, creating opportunities to scale embedded banking services and deepen financial inclusion.

Both organisations said the initiative reflects broader efforts to make informal businesses more visible, financially accessible and scalable by equipping entrepreneurs with tools needed to compete in an increasingly digital economy.