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Sterling Bank Reassures SMEs In The Food Sector Of Loans

Sterling Bank Reassures SMEs In The Food Sector Of Loans

Sterling Bank Plc has restated its commitment to the development and empowerment of small and medium scale enterprises in the food sector.

Also, Sterling Bank sponsored the just concluded sixth edition of the Eat.Drink.Festival – a yearly event organised by the Eat.Drink.Festival team.

Daphne Akatugba, the Marketing Manager, Specialised Products, Sterling Bank, spoke at the event. She said that Sterling Bank intends to work with SMEs in their early stages of growth by offering financial advisory and financing.

Akatugba stated that if SMEs work with Sterling Bank at their development stage, they would continue to partner with the bank when they eventually become big business concerns.

Akatugba said, “The Eat.Drink.Festival gives small businesses the platform to reach other people. A lot of these businesses do not have physical structures but they are running them from their homes. Sometimes, they are online businesses.

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“For a lot of businesses, one of the major things they need is access to markets and that is what the festival is doing. Because if you don’t have customers, you don’t have the business and your location does not matter.”

Sterling Bank could finance a small business whether it had a physical structure or not, Akatugba added.

“They can get financing and we also provide financial advisory services. This event helps us to reach out to these businesses and grow with them. Our target is that you increase your revenue and you form a working relationship with us so that we can grow together” Akatugba said.

According to Akatugba, participation in the festival gave her bank the opportunity of assessing the requirements of businesses in order to properly support them.

For more about SMEs in the food sector, visit www.smefinance.org

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