Rosabon Financial Services, a non-banking financial service provider, has announced a new loan facility of up to N10 billion for eligible small businesses and corporate organisations in Nigeria.
In a statement, Rosabon said the fresh facility is part of its continued commitment to supporting Nigerian businesses, especially in the face of the unravelling impact of the second wave of the COVID-19 pandemic.
All businesses registered in Nigeria for more than one year are qualified for the facility, which is available within 48 hours of application. Interest rate is at a single digit, with repayment tenor at 24 months.
Speaking on the facility, Managing Director, Rosabon Financial Services, Chukwuma Ochonogor, stated that this year’s facility is part of the organization’s commitment to sustain support for business owners, limit the damage caused by the coronavirus pandemic in the past year, and help businesses to become more resilient and sustainable even in the wake of the second wave of the pandemic.
He said: “We know some business owners have experienced revenue loss, and some are still experiencing the revenue loss. That is why we have introduced loan facilities that will help their business operations to thrive. We hope as we journey with our business community by deploying our loan facility and expertise, we would be providing a much-needed financial cushion required to navigate the new normal.”
He added: “A much bigger goal for us is to boost economic growth in Nigeria by supporting these businesses and corporate organisations through access to finance in the face of an economic recession and increasingly tough operating environment. At Rosabon, we remain committed to providing this much-needed financial leverage to businesses that require it, helping them remain in business and also retain their employees.”
Recall that in the face of the hard economic condition occasioned by the COVID-19 pandemic in 2020, Rosabon announced a series of loans to the tune of N5 billion targeted at small businesses and corporates, healthcare service providers, civil servants, etc. to cushion the impact of the pandemic and support the Nigerian economy.
Over the past two decades, Rosabon has worked continuously with business owners and corporations across Lagos, Abuja, and Port Harcourt, and all other states in the federation to boost their business operations and return on investment, recognizing that they are required for the continuous growth of the economy.
In addition, the non-banking financial institution has pledged to continue to provide respite and succour to resilient businesses that have painstakingly rebuilt their business operations in this new normal and remains certain that it would be there every step of the way even during the second wave of the COVID 19 pandemic.