MSMEs in the Health sector, Education sector and Technology sector have been given priority in accessing the needed funds to boost their businesses under a scheme from Access bank called PORTFOLIO LOAN. In a just concluded press statement, Ayodele Olojede, Head, Emerging Business, Access bank Plc. made it known that the funds which are dedicated to these 3 sectors will be made available to MSMEs who have been able to keep a good credit and sales record in their businesses. In her statement, “Finance is not the problem, accessing it is the problem which is based on some variables such as keeping your financial records, managements, sales..”
Under the Portfolio Loan scheme, MSMEs in the health sector can access loan facility up to 3 million naira collateral free, while the education sector can access up to 10 million naira collateral free.
In addition to accessing this facility, Access Bank already has in place what is known as MSME Clinic which gives businesses access to workshops and one-on-one engagements with consultants who proffer solutions to where they are struggling in their businesses.
In 2017, 8,000 businesses benefited from loan facilities and in 2018, over 11,000 businesses got loan facilities which placed Access bank as one of the friendliest MSMEs financial partners.
To be part of this scheme, you can just walk into any Access bank and demand to apply for the Portfolio Loan Scheme pending when a dedicated portal will be made available online.
More details on this scheme will be aired in partnership with SME Digest on Inspiration 92.3fm every Tuesdays starting from August 6th, 2019, so stay tuned on your radio as we bring you explicit details and further benefits involved with accessing funds to grow your business.