Access Bank, a Nigerian multinational commercial bank, has set aside a whopping N50 billion to support Nigerian businesses.
The fund, interestingly, is an interest-free loans that can be accessed by business owners.
The bank disclosed this through its official LinkedIn page.
According to Access Bank, it is a grant to support communities, youths as well as micro, small and medium-sized businesses.
The financial move, the bank says, is to support businesses following the crippling COVID-19 lockdown. It will as well help to cushion the effects of looting and arson that trailed the #ENDSARS protests.
“The fund serves as a kickstart to these affected communities, people and businesses. #AccessCares #All4One.”
According to the bank; “Now more than ever, we remain committed to our purpose of impacting lives positively.
” In light of the recent occurrences, we will be supporting Nigerian businesses with N50billion interest-free loans and grants. ”
The Bank’s supports are expected to help business owners and entrepreneurs alleviate and stimulate economic activities, as well as produce many positive multiplier effects on the economy.
“As a way of supporting SMEs and the working class of the country following the recent damage of properties and livelihoods experienced across the nation, @myaccessbank has rolled out interest-free loans of up to N50billion.” the bank said.
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