Wema Bank has resumed the series on loans and other financial services offer to small and medium-sized enterprises in the country, which was put on the stop before to address some other small businesses financial intelligence issues. Before the Wema bank business loans were paused, the bank had published the loans and all the related financial packages for the small and medium-sized enterprises in Diamond Bank, Stanbic IBTC Bank, and Skye Bank.
The bank will be resuming the loan series with a focus on Wema Bank’s SME Banking with a special focus on its credit facilities for small businesses. Wema Bank says it’s passionate about helping small businesses in Nigeria to grow on all fronts. Beyond financial support, Wema bank says it will provide SME financing package for working capital, as well as access to a select business forum organized by the Bank for SMEs.
Wema Bank Business Loans is needed for the growth of small businesses
This will help the small business owner to think big, start small and be sure of success. Surprisingly, Wema bank starts its offers to SMEs with deposit account product. It is not clear if this implies the small business owners must open and operate a business account with the bank before they can have access to the Wema bank business loans facilities or other forms of supports.
Wema bank enjoins the prospective beneficiary of the loan package to ”gain a competitive edge from the benefits of a Savings Account as an entrepreneur or small business owner.” The first account Wema bank enjoins the prospective beneficiary to have is called ‘myBusiness Account’, which according to the bank, gives access to funding and credit packages. “myBusinessAccount” provides access to funding and credit packages to enable small business owners to build and maintain a thriving business over the long-term.
“myBusinessAccount” is meant for sole entrepreneurs, microenterprise business owners, small and medium scale businesses e.g., Private schools, Bakeries, Hospitals, Trading concerns, Commercial printers, Eateries, etc. The account has 3 variants – Bronze, Silver, and Gold. Some details of these variants will be given in the next week’s edition.