This team oversees the process of getting loans from Access Bank without a collateral.
In an interview with Vanguard News, she said that the aim of the concept is to help budding/emerging entrepreneurs who need financial/material support to grow their business.
According to her statement, they grouped the SMEs loan into two sections; MediLoan, which will support SMEs that offer Medical Services.
"We have MediLoan for pharmacists, hospitals and diagnostic centres. This loan is available for different things like, working capital, equipment financing and expansion. It is a very flexible loan, if you ask for three million; we won’t ask you for any collateral at all. We can lend as much as three hundred and fifty million to buy equipment because we know how expensive medical equipments are.
"Our partnership with Medical Credit Fund (MCF) allows us to offer technical assistance to our customers. Medical practitioners have a quality standard rating for operating. Our partnership with MCF allows them come into our customers’ facility and help them attain a high quality standard in healthcare.
"We also have a loan for schools. The loan is tailored for people who are in the business of running schools. The account for schools is called ‘The Diamond School Advantage’, DSA. This account gives school owners the advantage of collateral free loan to buy equipment, renovate their schools and also working capital.
"We have the creative sector loan. Through the CBN on-lending initiative targeted at the Creative sector, Access Bank supports businesses in the fashion industry, IT, Movie and Music production. You can enjoy up to N500 million at a discounted interest rate of 9% for repayment duration of up to 10 years.
"We want to stop the idea of difficulty in SMEs securing financial assistance from banks as Access bank is really passionate about growing the engine of the economy which SMEs represent", she said.
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