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
âAccess 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 customersâ cash flow.
Â The term facility would have a moratorium period of six months and then we would structure the repayment following the customersâ 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,
interactive leisure software,