Home Business MSMEs operators to get new credit facility
Business - August 4, 2018

MSMEs operators to get new credit facility

CBN releases new guidelines on forex

Operators of Micro, Small and Medium Enterprises (MSMEs) are now to enjoy five percent credit facility, the federal government has said.

The initiative the government said is to stimulate the sector and to give operators more access to funds.

Speaking at the maiden edition of the national MSMEs award, Vice president Yemi Osinbajo said under the programme, operators would be given loans from N2million to N10million with little or no collateral for five or seven years.

He also said the government has partnered with the Central Bank of Nigeria and commercial banks to launch a credit facility.

The Vice President said all that the MSME operators required was a bankable business proposal and guarantors.

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