Polaris Bank has announced the introduction of a cash flow lending product to Small and Medium Enterprises (SMEs) tagged; Polaris Business Loan.
In statement today, January 22, the band said that the loan facility offers both existing and new SME customers of the Bank the opportunity to access quick loans for stock replacement, equipment finance, working capital and business expansion to sustain and scale up in the business.
“This forms part of the lender’s continuous efforts to support the growth of small and medium scale businesses.
The loans, according to the statement, can be used for a wide range of purposes such as stock replacement and purchase of raw materials, renovation and expansion, Asset acquisition etc.
It said that those who take the SMEs business loans are also eligible to access free tailor-made capacity building trainings which is offered periodically by the Polaris Business Advisory Academy.
The statement quoted the Bank’s Group Head, Products & Market Development, Mrs. Adebimpe Ihekuna, as saying: “the difficulty which used to characterize one of the challenges faced by SMEs in accessing funding for their business is now a thing of the past, adding that the Bank do not only offer loans but financial advisory; as well as empowerment programs on business intelligence.”
The statement directed both the existing and new customers of the Bank to visit any Polaris Bank branch to complete the loan application process or send an email to smebusiness@polarisbanklimited.com for assistance.
