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Polaris Bank Announces Release of Business Support Loans to Female-Owned Enterprises

BY DAYO ADESULU

Polaris Bank has announced the release of business support loans to female-owned enterprises in the first quarter of 2023, in an effort to promote gender equality, inclusivity, and economic empowerment.

This is part of the Bank’s commitment to assisting women and female-owned enterprises by making soft loans available.

According to the Bank, the loan disbursement, which touched around 20,000 beneficiaries across several industries, is intended to alleviate the existing financing gap and provide a significant boost to female entrepreneurs.

This should help them thrive, develop their activities, and contribute to the country’s economic growth.

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Transportation, agriculture, education, construction, engineering, general commerce, health, hotel and leisure, manufacturing, and media are among the industries affected.

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, amongst other value adding features. Polaris Bank envisions a future where female-owned businesses play an increasingly influential role in driving economic progress, innovation, and job creation.

The bank firmly believes that empowering women entrepreneurs will contribute to a more prosperous and equitable society.

Within the quarter, the Bank also 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”. During the webinar, availability of a single digit interest loan was re-echoed to women entrepreneurs that meet the set criteria. This is in line with Polaris Bank’s commitment to the Nigerian Sustainable Banking Principles.

Speaking on the development, Polaris Bank’s Group Head, Brand Management and Corporate Communication, Nduneche 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.”

Women entrepreneurs who want to take their business to the next level may visit Polaris Bank’s website, www.polarisbanklimited.com, or contact their local branch to learn more about the application process and eligibility criteria.

Polaris Bank was named Digital Bank of the Year in BusinessDay’s Banks And Other Financial Institutions Award (BAFI) in 2021 and 2022. It was also named the best MSME bank due to its ability to employ technology to provide bottom-up help to SMEs.

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