Abia partner FCMB to promote SME, Abia state government has partnered with first city monument Bank to provide financial support to intending and existing Small and Medium Enterprise in the State, this is being championed under the (YEDP) Youth Entrepreneurship and Development Programme.
The commercial bank has offered to provide technical and financial assistance to SME owners and intending ones who have sound and viable business ideas.
A single individual can access up to N3m facility while group of joint owners will access up to the tune of N10m to be repaid in three years at 9 per cent interest rate.
These are NYSC members and fresh graduates with verifiable tertiary institution certificate, as well artisans with WAEC, NABTEB, First school leaving certificate.
Ensuring ease and convenience in accessing the facility, FCMB had developed a product under YEDP and a website where intended applicants can log in, fill forms, provide all necessary requirements to access the fund.
The Executive Director of the bank Mrs Bukola Smith describes the bank’s role as yet another demonstration of its’ commitment to sponsor and empower SMEs in the state, which will in turn stimulate the economy.
“We reorganize the role of SMEs as drivers of Nigeria development and how youths can key into the rare opportunity. The YEDP is a major platform to address the challenges of unemployment among youths, as it will go a long way to ensure availability and affordability of capital required by entrepreneurs and start ups.
” Abia partner FCMB, with this step as well as product and website we have developed for the YEDP, we are offering youths in the state multiple opportunities to get empowered and become successful business owners.
The Governor of Abia state in his address in the programme said “YEDP was designed to change the old ways of empowering youths by partnering with strong institutions and provision of right supports which will help them become better equipped, productive and contribute significantly to the well being of the country in sustainable manner.
Raphael is a seasoned and dynamic writer, with interest in Banking, personal finance, entrepreneurial development. A councillor and motivational speaker.