Leading financial firm Fidelity Bank Plc has reiterated its commitment to supporting schools in their efforts to provide high-quality education as the summer break comes to an end.
Administrators of private, registered primary, secondary, and tertiary institutions in Nigeria can receive loans of up to N180 million through its specialised product called as the Fidelity Edu Loan.
“At Fidelity Bank, we recognise the pivotal role quality education plays in the development of any nation, and this informed our introduction of the Fidelity Edu Loan,” Divisional Head, Product growth, Fidelity Bank Plc, Osita Ede stated in a conversation with journalists.
Through the offering, privately-run educational institutions can access loans at a friendly rate for working capital needs like minor renovation on their school property, financing the purchase of school supplies like books, teaching materials, furniture, or uniforms; and making salary payments.
Similarly, schools can leverage the Fidelity Edu Loan to purchase fixed assets like school buses, generators and construct new school buildings.
To be eligible for the product, the requesting customer must have operated their educational institution for at least three years and should be duly registered with the relevant authorities.
“The Fidelity Edu Loan is part of our larger education finance proposition at Fidelity Bank as we aim to empower everyone within the education ecosystem, including the schools, parents, and contractors, with amazing financial and non-financial products and services.
For instance, we have the Fidelity Personal loan which provides instant loans of up to N5 million to employees of private and public organisations by simply dialing *770*08# from their mobile phones. This can become handy for paying school fees or meeting other personal needs”, explained Ede.
Fidelity Bank is a full-fledged commercial bank operating in Nigeria with over 8 million customers serviced across its 250 business offices and digital banking channels.
The bank was recently recognized as the Best SME Bank Nigeria 2022 by the Global Banking & Finance Awards.
The bank has also won awards for the “Fastest Growing Bank” and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.
By Dayo Adesulu