Why We Supported 20,000 Female-Owned Businesses with N1bn Loans – Polaris

Why We Supported 20,000 Female-Owned Businesses with N1bn Loans – Polaris

Polaris Bank said it has disbursed business support loans to about 20,000 female-owned businesses in the first quarter of 2023.

The Bank explained that it was part of its commitment to supporting women and female-owned businesses through the provision of soft loans.

The financial house added that the move was aimed at fostering gender equality, inclusiveness, and economic empowerment as well as addressing the existing financing gap and providing a vital boost to female entrepreneurs.

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

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.

Speaking on the development, Polaris Bank’s Group Head, Brand Management and Corporate Communication, Nduneche Ezurike, said, “At Polaris Bank, we are dedicated to building an inclusive economy that fosters opportunities for all. We recognize the immense talent and potential of women entrepreneurs and understand the challenges they face. Through our women and female-owned business loan window, we aim to break down barriers and provide the financial support necessary for businesses being run by women to flourish.”

Women entrepreneurs interested in scaling their business to the next level are encouraged to visit Polaris Bank’s website, www.polarisbanklimited.com or contact any of the Bank’s nearest branch to learn more about the application process and eligibility criteria.

Polaris Bank was adjudged Digital Bank of the Year in 2021 and 2022 in BusinessDay’s Banks And Other Financial Institutions Award (BAFI). It also emerged as the best MSME Bank because of its ability to use technology to enable bottom-up support to the MSME sector.