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NIGERIA: Polaris Bank Launches SMEs’ Loan Scheme

Polaris Bank has introduced a cash flow lending product for Small and Medium Enterprises (SMEs) tagged Polaris Business Loan.

The facility grants both existing and new SME customers of the bank the opportunity to access quick loans for stock replacement, equipment finance, working capital and business expansion to sustain and scale-up in their business, as part of the bank's continuous efforts to facilitate SMEs' growth.

SMEs who take these business loans are also eligible to access free tailor-made capacity building training, offered periodically by the Polaris Business Advisory Academy.

Nigeria In Focus:

Population: 206.6 million (Compared to South Africa's 59.6 million)

GDP: $504.57 billion (Compared to South Africa's $369.85 billion)

GDP Per Capita: $2,465 (Compared to South Africa's $6,193)