Small and Medium Scale Enterprises can now quickly access from N5 million to N100 million to purchase equipment needed to grow and expand their businesses, courtesy of First City Monument Bank SME Asset Finance Facility. So far, over 25,800 SMEs have accessed this facility.
With a four years repayment option, this asset finance facility is open to early-phase businesses of less than five years and growing SMEs to help fund new equipment addition or replace depreciating assets to sustain growth trajectory. He disclosed that “FCMB understands the challenges SMEs face in securing funding and is committed to providing them with the financial support they need to grow and succeed.”
In recognition of its support to SMEs in the country, FCMB was awarded “Best Bank with the Highest Impact on SMEs in Nigeria” for the second consecutive year by the Development Bank of Nigeria at its annual awards ceremony. This prestigious award is a testament to FCMB’s ongoing efforts to provide SMEs with the financing and support they need to grow and succeed.
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