BoI, RUFIN seal pact on soft loans for 100,000 new small businesses

The Bank of Industry, executor of MarketMoni, one of Federal Government’s social intervention programmes, has sealed a pact with the Rural Finance Institution Building Programme (RUFIN), an initiative of the Federal Ministry of Agriculture and Rural Development (FMARD), to provide access to soft loans to 100,000 small businesses.

The partnership is part of the Federal Government’s activities to stimulate the Nigerian economy and deepen financial inclusion for the economically active rural poor.

The partnership also signals the commencement of events by BOI to reach 100,000 new beneficiaries of MarketMoni through RUFIN across Nigeria’s six geopolitical zones within the second quarter of 2017, as accredited individuals will have direct access to quick, easy and interest-free loans of between N10,000 to N100,000 for up to six months at no other costs except a one-time five per cent administrative fee.

LAGOS, it intervention fund and you by Don Abiodun Odedeyi

Today, the protocol of writing formally went through the window before I open my computer

Introduction

The LSETF is the Lagos State Employment Trust Fund, a N25billion set aside simply for the growth of smes, creation of business, making dreams come true.

Why should I dwell on why Lagosians seems to miss out in benefits when we've not yet touched why you are here (How you can participate).

But really, where have you been before now… where have you been when others are already getting theirs? Anyway, let's skip that and go to the business of the day.

Screenshot of application page and requirement on lsetf web page

The LSETF is not for established businesses alone but also for business idea that need fund to become reality.  The bottom-line is simple – create/empower self-employed, sme so that they become companies that fend for themselves and employ people.