In the last two editions of this column we outlined some basic features of Wema Bank’s small businesses loan package, ‘myBusiness Account’ in the three variants – Bronze, Silver and Gold

Agricultural, manufacturing  and the sectors considered as growth and employment stimulating, can now borrow long term as much as N10billion at consolidated nine per cent interest rate under new guidelines issued by the Central Bank of Nigeria.

The Bank of Industry (BOI) has disbursed interest-free loans to more than 350,000 beneficiaries the 36 states of the federation including the FCT since December 2016, under the Government Enterprise and Empowerment Programme (GEEP), one of the National Social Investment Programmes (NSIP) of the Federal Government.

In the last two editions of this column we outlined some basic features of Wema Bank’s small businesses loan package, ‘myBusiness Account’ in the three variants – Bronze, Silver and Gold.

Banks are now to give credit to the manufacturing and agricultural sectors at fixed interest rate which will run for a period of seven years.

THE Federal Government last night said that it has launched a new initiative under the Government Enterprise and Empowerment Programme (GEEP), called the TraderMoni, which will empower two million petty traders between now and the end of the year.

We now resume the series on banks’ loan and other financial services offer to SMEs, which we paused a few weeks ago to address some other small businesses financial intelligence issues.

The United States Secretary of State, Rex Tillerson, yesterday, told African countries to be wary of Chinese government and its loan facilities.

In the past three months we have been discussing banks’ offers to small businesses in the micro, small and medium enterprises (MSMEs) in the area of business loans.

We are finally at the concluding part of the discussion on Diamond Bank loan packages for small business.