Polaris Bank has introduced a cash flow lending product for Small and Medium Enterprises tagged Polaris Business Loan.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 can be used for a wide range of purposes such as stock replacement and purchase of raw materials, renovation and expansion, Asset acquisition etc. SMEs who take the business loans are also eligible to access free tailor-made capacity building trainings which is offered periodically by the Polaris Business Advisory Academy.
In a statement issued by the Bank, the Group Head, Products & Market Development, Adebimpe Ihekuna, said, “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.