N50 Billion Interest-free Loan/Grants from Access Bank

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Nigeria’s No. 1 Retail Bank, Access Bank has taken to their social platforms to announce a 50 billion naira interest-free loan and grants to support communities, micro, small and medium sized businesses and the youths.

In a press briefing, the following was shared by the bank;

“The events of recent days and weeks have been a difficult period in our country’s history. We have all been anxious, worried and pained at what we have seen in the media and what we have heard from our customers, our colleagues and our loved ones.

As one of Nigeria’s largest businesses serving every part of our society, it is our responsibility and duty to make a difference. Corporates cannot simply stand by and send messages of solidarity and then go back to ‘business as usual’ without helping get their customers and communities back on-track.

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Supporting business, large and small, is in our DNA and in recent years we have seen entrepreneurial spirit that filled us with hope and confidence in the future. Our young technology entrepreneurs have been building businesses that are celebrated globally and we have seen SMEs flourish and innovate across the country. There has been a set-back on this journey and we feel the hurt of our nation. We are committed to restarting businesses quickly but even more importantly to ensure we come out of this stronger and more successful together.

Therefore, we are announcing that we have set aside a minimum of N50bn (through interest-free loans and grants) to support the rebuilding of businesses and to bring greater opportunities. This will be used to support:

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• The communities we live in, the people who protect us and the spaces that we need as communities to thrive.

• Our micro, small and medium sized businesses who employ most Nigerians and feed and educate our children.

• Our young population who represent the future and hope for our nation.

We must heal our wounds and come out stronger so that we can occupy our true position in the world and bring a better future for our children.”

More details about this funds will be shared in the coming days, so stay tuned!

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