Polaris Bank says it has started the disbursement of business support loans to female-owned businesses in the first quarter of 2023.
The Group Head, Brand Management and Corporate Communication, Nduneche Ezurike, said this in a statement on Thursday in Lagos.
He said that the loans were part of the bank’s moves to foster gender equality and inclusive economic empowerment.
He said the loan was also part of the bank’s commitment to supporting women and female-owned businesses through the provision of soft loans.
Ezurike added that the disbursement of the loans which had impacted close to 20,000 beneficiaries across different sectors, aimed at addressing the existing financing gap and provided a vital boost to female entrepreneurs.
This, he said, was expected to help the women to thrive, expand their operations, and contribute to the nation’s economic growth.
The sectors impacted include: Transportation; Agriculture; Education; Construction; Engineering; General Commerce; Health; Hotel and Leisure; Manufacturing and Media.
He said part of the major selling point for the loan at Polaris Bank are quick turnaround time, instant disbursement, Flexible Terms and Conditions, Competitive pricing, Financial Education and Mentorship, among other value adding features.
He noted that the bank envisions a future where female-owned businesses play an increasingly influential role in driving economic progress, innovation and job creation.
He said the bank firmly believed that empowering women entrepreneurs would contribute to a more prosperous and equitable society.
The statement also mentioned that the bank celebrated the International Women’s day (IWD) with a well-attended webinar titled: “Advancing Women Empowerment through the Adoption of Technological Innovation and Digital Education”.
Ezurike said that during the webinar, availability of a single digit interest loan was re-echoed to women entrepreneurs that met the set criteria.
According to him, this is in line with the bank’s commitment to the Nigerian Sustainable Banking Principles.
Ezurike said, “at Polaris Bank, we are dedicated to building an inclusive economy that fosters opportunities for all.
“We recognize the immense talent and potential of women entrepreneurs and understand the challenges they face.
“Through our women and female-owned business loan window, we aim to break down barriers and provide the financial support necessary for businesses being run by women to flourish.”
He urged women entrepreneurs interested in scaling their business to the next level to visit Polaris Bank’s Website, www.polarisbanklimited.com or contact any of its nearest branch to learn more about the application process and eligibility criteria.
