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Jaiz Bank Disburses Collateral-Free Loans To SMEs

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Jaiz Bank Plc has ensured that SMEs continue to have access to collateral-free loans as part of ways to deepen funding in the country.

Aliyu Buhari, the representative of Micro, Small and Medium Enterprise Department of Jaiz Bank Plc made this known at the conference organized by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to mark the 2019 World MSMEs day.

Buhari stated that the Bank’s vision is easing access to finance for SMEs.

“It’s in that line that we are able to get a N3 billion credit facility from Bank of Industry, which we are currently disbursing. Each SME can access up to N5 million without collateral. And it can go up to N10 million”, Buhari said.

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“For businesses that are into processing and manufacturing, in line with the current government’s collateral registry policy, they don’t require bringing any collateral. All they need to do is, use the equipment we are buying for them as collateral.” Buhari added.

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