As part of efforts to boost small and medium sized businesses in Abia as well as stimulating economic growth, the State governor, Okezie Ikpeazu has unveiled Easy-Credit, a product of the Abia SME Microfinance Bank Limited.
The product seeks to provide access to funding to Mico SMEs, particularly Traders, Artisan, and Enterprenus at single digit interest rates .
At the product launch, Governor Ikpeazu, also presented different categories of Cheques for Credits to the Bank customers from different market clusters in the state.
While assuring the bank’s customers that he is poised to support MSMEs in the State to aid the survival of economic shocks occasioned by COVID-19 pandemic and other socio-economic upheavals, Governor Ikpeazu charged MSMEs to leverage opportunities offered by the bank to support and grow their businesses.
The Governor maintained that since inception, he has continued to sustain his support for entrepreneurs in the State through many policies, programmes and projects.
He opined that the function of government is to create an enabling environment for private sector growth and he expressed gratitude that Abians and even external bodies have recognized the State Government as one that is supportive of MSMEs in the state.
Governor Ikpeazu announced that the State Government will boost the loan basket with additional 25 million Naira and donated an SUV to support the bank’s operations.
Speaking on behalf of the board, Barr Gabbe Iboko remarked that the vision of the Governor is to leverage the Bank to assist entrepreneurs bridge their access to finance gaps by providing soft loans with very convenient terms and conditions.
In his remarks, the Managing Director of the Bank, Mr Kingsley Nwobilor also highlighted other products offered by the bank such as , Save to Acquire keke/ Minibus, Thrift Credit Scheme and Disposal Investment Scheme which where all designed for SMEs.
Responding on behalf of other beneficiaries, Mrs Cynthia Nwosu thanked the Governor for establishing the bank as a way of supporting their enterprises. She assured that they will play by the rules and ensure prompt and accurate repayment of the loan so that others will benefit too.
ABN TV learnt that the loan categories ranges from 500,000, 300,000, 200,000, 100,000, 50,000 while leaders of the Aba business community, trade associations, market leaders were present during the event.