Mainstreet Microfinance Bank has increased its maximum loan limit to N50m for businesses.
In a statement titled ‘Mainstreet MfB boosts SMEs with up to N50m enterprise loan’, the bank explained that the essence of the move was to empower individuals and businesses to meet their aspirations especially during the pandemic.
Managing Director, Mr Adegoke Adegbami, said, “We value the contributions of Small and Medium Enterprises to the Nigerian economy. We truly understand that little or no capital poses a big challenge for them and we take it upon ourselves to assist them so long as their businesses are structured and their growth projections are viable.”
The bank said it has over 100,000 customers and had disbursed over N20bn in the last 12 years.