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Business: Access Bank unveils digital cash flow lending for SMEs



Access Bank Plc has unveiled a digital lending portal to provide access to finance for Small and Medium Enterprises (SMEs) in the country.

The portal tagged: “Caxh flow Loans by Access”, is to encourage grow and expand SMEs businesses.

Mr Victor Etuokwu, Access Bank Executive Director, Retail Banking, said the digital lending portal was part of its effort to provide access to finance for SMEs.

Etuokwu said in a statement in Lagos on Wednesday that ‘Cash flow Loans by Access’ would enable business owners to access loans easily from the comfort of their homes via an online platform while staying safe.

“This new service, is accessible to all small and medium enterprise customers who have established sufficient cash flow records with the bank,’’ he stated.

Etuokwu noted that the bank would continue to impact SMEs positively to ensure economic growth and development.

“In a period like this, when we need to be more present and relevant in the lives of our customers than ever.

“We have risen to the challenge to ensure business owners have easy access to funds to sustain and expand their businesses while keeping safe.

“We are committed to not only providing uninterrupted service but superior service to meet the needs of all our customer segments.’’

He said that the bank developed the digital lending platform to make loan application more convenient with flexible collateral, favourable interest rates, application tracking, robust customer service and much more.

“We have been focused on providing solutions targeted at boosting the economy because we believe it is our responsibility to contribute to the stimulation of economic growth.

“With the launch of cash flow loans by Access, we are renewing our commitment to providing the much needed financial support to SMEs,’’ he said.

United Nations had extimated that Over 13 million jobs could be lost in Nigeria.

According to UN.

Coronavirus pandemic could lead to about 13 million job loss in Nigeria, the World Food Programme (WFP) of the United Nations (UN) had speculated.

The cash flow lending for SMEs could reduced the rate of job loss in the country.