ACCESS BANK Begins Disbursement of N50B Interest Free Loan- Apply: The management of Access Bank PlC has announced N50 Billion naira free interest Loans for Businesses to thrive
This is coming at a time when the economy of Nigeria is falling south due to the covid-19 and the #Endsars protests, which has recked havoc in the country lately.
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This N50Billion naira free interest loan will come into effect 2021, with businesses getting huge boast and support, a move which will improve businesses in the long-run
Access bank plc has set the stage; many more banks (Commercial Banks) will announce her plans and hit the ground running
“Access Bank Plc will today commence the disbursement of the N50 billion interest-free loans and grant it set aside for
- Micro, small and medium size enterprises (MSMEs) that were destroyed by hoodlums in the wake of the protest against police brutality in the country last week.
- Commercial banking customers as well
- Corporate banking customers affected by the looting and arson in some parts of the country last three weeks.
- Customers of the financial institution across its MSME business,
Loan Repayment Plan
- It has a maximum tenor of 24 months for the access finance and
- 12 months for the working capital.
- The structure is flexible and it is to align with the customers’ cash flow.
- The term facility would have a moratorium period of six months and then we would structure the repayment following the customers’ own cash flow cycle.
- Both are interest-free.
For the Free Grant:
It encompasses of two segments
The youth empowerment is in two parts its consist of tech industry and
skill development, like:
The creative industry comprises
- the arts and antiques market,
- designer fashion,
- interactive leisure software,
- performing arts,
- television, and
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