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Polaris Bank Boosts Female-owned Businesses With N1bn Loans

Polaris Bank has announced the disbursement of business support loans worth N1 billion to female-owned businesses in the first quarter of 2023, as part of its efforts toward fostering gender equality, inclusiveness and economic empowerment.

In press release, the Bank said the disbursement of the loans, which impacted close to 20,000 beneficiaries across different sectors, is aimed at addressing the existing financing gap and providing a vital boost to female entrepreneurs, adding that this is expected to help them to thrive, expand their operations, and contribute to the nation’s economic growth.

The sectors impacted include: Transportation; Agriculture; Education; Construction; Engineering; General Commerce; Health; Hotel & Leisure; Manufacturing and Media.

According to the statement, “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.”

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