Interswitch Group has announced its partnership with six Nigerian banks and three credit lenders to offer loans to Small and Medium scale Enterprises (SMEs) and underserved individuals via its lending platform.
Interswitch’s Divisional Chief Executive Officer, Mr. Akeem Lawal, disclosed this in Lagos after launching its lending services platform.
The lending partners are First Bank of Nigeria, UBA, Heritage Bank, Unity Bank, Fidelity Bank and Ecobank while the credit providers are Kwikcash, Paylater and Ferratum.
According to him, the service would resolve the “missing middle” challenges faced by SMEs and individuals in accessing unsecured, short-term micro-loans from banks.
He said the aim was to deepen financial inclusion, especially among underserved individuals and SMEs and foster business growth across the country.