The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in collaboration with Sterling Bank Ltd., on Monday, unveiled five billion naira initiative-Databanc loan to address financial gaps for small businesses.
The Small and Medium Enterprises Development Agency of Nigeria in collaboration with Sterling Bank Ltd., on Monday, unveiled five billion naira initiative-Databanc loan to address financial gaps for small businesses.
Mr Bunmi Kole-Dawodu, the Lagos State Manager, SMEDAN, said the funding tool would be geared towards providing local and tailored made support for business at the smallest levels. “It is important to have the support of business membership organisations to help encourage members to go on the platform and register to foster data driven insights,” he said.
Odii said the agency as the vanguard for livelihood enhancement would continue to bridge the gap between the government and small businesses. Mrs Bolanle Tyson, Head, SME Products, Sterling Bank Ltd., said Databanc was a five billion single digit loan to engender easier access to funds by nano and micro businesses.
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