One of the impediments to business financing in Nigeria is either bad policies from the government or stringent terms by the banking institutions or both.
Find the best and affordable online loans in Nigeria. Save money by knowing the interest-free loans from loan providers. Loans from CBN, SME loans, Moneylenders, and Microfinance banks
Micro, Small, and Medium Enterprises (MSMEs) can never forget the economic effect of the covid-19 pandemic on their businesses. But the business policies of Nigeria’s apex bank are most likely to put smiles on the faces of such business owners going by the latest 27-page guidelines handed down by the Central Bank of Nigeria (CBN) for the registration and supervision of Credit Guarantee Companies (CGCs) in Nigeria.
It’s exciting to know that financial institutions in Nigeria are deepening their interest in supporting micro-traders through soft loans.
The latest on the list credit facility available for small business owners is ‘I Go Trade’ which was launched by Sterling Bank, where SMEs and artisans can access up to N300, 000
One of the hardest challenges small business owners face around the world is getting bank loans to support their startups. It’s even more difficult in Nigeria where the rate of defaulters is high. So, financial institutions are extremely cautious before granting loan requests. No one wants to go out of business.