Maritime microfinance bank to support MSMEs with N201m

The Maritime Microfinance Bank Limited has earmarked N201m for disbursement as loans to Micro Small and Medium Enterprises in 2016.

A statement by the bank said while N120m would be disbursed as micro loans, N81m would be disbursed by the bank as the SME loans.

Acting Managing Director of the bank, Mr. Oluwaseyi Hamilton, said the planned loan disbursement aimed at supporting the Federal Government’s drive to diversify the nation’s revenue base, creating employment and encouraging Small and Medium Enterprises.

He said, “We have since inception focused on economically empowering micro- entrepreneurs and low income earners by providing financial services in a sustainable and ethical manner.

“In this regard, we have developed a variety of loan products specifically designed for individuals running Micro Small and Medium Enterprises.”

Hamilton added that the bank’s processes and procedures were tailored to suit the customer’s requirements.

He said the bank was committed to providing the fastest turnaround time for processing loan applications.

“We have, since inception, supported the growth and development of small businesses. We have also been consistent in providing the much needed financial support and solutions to businesses and individuals in the maritime industry and the larger economic space.

“We actively seek to understand our customers’ challenges, expectations and needs with the aim of meeting and surpassing their expectations in our service delivery,” Hamilton said.

He said the MMFB, which experienced phenomenal growth within its first year of operation, would continue to deploy modern technology to provide fast and more efficient services.

The bank was incorporated on January 24, 2014 to carry on the business of micro banking in Nigeria and arrange/raise funds or loans.

Licensed by the Central Bank of Nigeria and fully insured by the Nigeria Deposit Insurance Corporation, the MMFB commenced operations on the December 1, 2014.

A seasoned banker and former Executive Director, Finance and Administration of the Nigerian Ports Authority, Mr. Adetola Atekoja, was appointed the chairman of the bank last year.

Source:PUNCH