Access Bank Starts N50bn Loan Program for Nigerians, Sets Application Condition

Join Telegram group Join Now
Join whatsapp group Join Now

Access Bank is offering a N50 billion loan program called YouThrive to help 700,000 micro, small and medium-sized businesses (MSMEs) in Nigeria.

The program will also provide training to the loan recipients on how to get the most out of the money.

Anyone between 21 and 40 years old can apply for the loan.

YouThrive aims to empower 4 million young people over the next four years, one million each year.

This program is more than just lending money. Access Bank will also offer various training programs to help the businesses succeed.

These programs will focus on technology, creative industries, business management, and skill development.

There are also job opportunities available for people who complete the program and show exceptional ability.

The bank and its parent companies will hire 1,000 people to work in technology, the Access Corporation ecosystem, and with other partner organizations.

This program is designed to address the challenge of small businesses not being able to get loans at reasonable interest rates.

The goal is for banks to lend to MSMEs at a single-digit interest rate.

The program will also help to reduce the obstacles that MSMEs often face when trying to get funding for their businesses.

Loan payments will only begin after the loan assessment is completed.

Small businesses are encouraged to apply for the YouThrive program to grow their businesses.

They can apply online by submitting their information.

In a separate development, the Central Bank of Nigeria (CBN) has increased the interest rate for Access Bank and other banks.

The new rate is part of an effort to combat the country’s high inflation rate.

This program is a great opportunity for young Nigerians who are looking to start or grow their own businesses.

The training and support that will be provided by Access Bank will be invaluable to these businesses.

The program will also help to create jobs and reduce the obstacles that MSMEs face in Nigeria.

Leave a comment