By Peter Egwuatu

GroFin, world’s leading multi-national financier and advisor to Small and Medium Enterprises (SMEs), has launched a property finance offering for small businesses in Nigeria.

This offering which is the first of its kind make available flexible finance option for business owners wishing to build, complete, refurbish or purchase property as part of a strong, viable business plan. It also offers them ongoing support to ensure the business succeeds.

Guido Boysen, CEO of GroFin Africa explains that “It has been widely documented in SME research that the primary cause of small business failure lies in a lack of access to finance and a lack of the management skills necessary to grow the business to make a profit year on year. It is with this in mind that we tailored an offering to SMEs where we offer them flexible finance for their business and ongoing support to ensure the business succeeds.”

Speaking further Guido Boysen said “Our new product takes this support one step further, offering flexible finance for business owners wishing to build, complete, refurbish or purchase property as part of a strong, viable business plan.”

While property finance exists in Nigeria, GroFin is bringing a unique offering to the market that is specifically tailored to the SME sector.

The company has recently redesigned its website to offer potential clients a new experience including an interactive online enquiry and application process.

According to Mr. Boysen “we have witnessed among our current clients the drastic increase in business brought on by the acquisition or upgrade of a property. Hotels are able to accommodate new guests, schools are able to enrol new students, and manufacturers are able to create more products.”

Unlike other property finance, this product is exclusively available to entrepreneurs and looks at the potential property in the context of each client’s business plan and assess its purchase in the context of its risks and the ability of the property to generate positive results for the business: “We will provide finance to an entrepreneur wishing to purchase a building as part of his/her desire to grow a business. We will complement this finance with the support in assessing whether this building will be a successful addition to growing the business, and in putting plans in place to mitigate any risks to the business’s cash flow.”