Nigeria’s premier and leading financial inclusion services provider, First Bank of Nigeria Limited, has announced its SME specific accounts designed to reinforce the Bank’s role in putting SME’s at an advantage whilst contributing to national growth and development.
The
SME accounts – which are in two variants – FirstSME Classic and FirstSME Deluxe
– are offered to SMEs, irrespective of industry, and tailored to have SMEs
exposed to a wide range of services and opportunities that are essential for
their continued growth and role in contributing to national development.
The advantages and features of these accounts
include; access to Temporary OverDrafts (TODs)and other facilities subject
to meeting Risk Adjustment Capital (RAC) of each product; immediate enrollment
on all digital platform; free access to FirstBank SME events; free access to
extensive business promotional and networking opportunities on the SMEConnect
portal; access to a wide range of discounted and promotional offers.
According to the Chief Executive Officer of
FirstBank, Dr. Adesola Adeduntan; “FirstBank is delighted to unlock several
opportunities for SMEs to thrive. Our FirstSME account is one of the numerous
opportunities designed to empower SMEs to continually drive impact as the
backbone and contributors to employment and economic growth.”
“Being
woven into the fabric of the society for close to 127 years means that we
remain at the forefront of providing the desired financial products and
services to fit the needs unique to the SMEs as well as facilitating the
requisite tools and resources to efficiently and effectively drive business
sustainability and expansion strategies essential to taking SMEs to the next
level’’
Amongst
the many opportunities available to holders of FirstSME account is the
SMEConnect initiative of FirstBank which is a platform through which SMEs
access the Bank’s unique propositions that will equip them with the essential
tools needed for the growth of their business. The SMEConnect portal is
also designed to help SMEs identify various gaps that hinder their business
growth. With FirstBank’s over 126 years of impacting the economy, the Bank’s
SME innovative Business Diagnostics Tool will also help proffer tailored solutions,
whilst creating avenues for business improvement, profitability and
sustainability.
Following
extensive research by the Bank, 7 strategic pillars have been considered
essential for the sustainability and growth of SMEs. The 7 pillars – connect to
infrastructure, connect to talent, capacity building, connect to policy and
regulation, connect to resources, connect to market as well as connect to
finance.
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