Yemisi Izuora
The Guarantee Trust Bank, has graciously put on hold Small and Medium Scale Enterprises, SME’s loans repayment within its banking portfolio.
This the bank explained was as a result of the COVID-19 pandemic which has kept small scale businesses closed in order to stay safe.
The bank also made it known that they are giving a 90- day moratorium on SME loan repayments of the Food industry credit, Fashion industry credit and quick credit for business.
Small and Medium-scale Enterprises (SMEs) play critical roles in job creation and economic development. The Bank intervenes in several industries, by strengthening SMEs, through capacity-building and non-profit consumer-driven fairs, that empower selected SMEs with new expertise that increases their economic impact.