The Enugu State Government said that its loan plan offering between ₦1 million to ₦1 billion for businesses will also fund SMEs focusing on information and communication technology (ICT).
The Enugu State Government, in collaboration with the Federal Ministry of Industry, Trade and Investment, recently launched the Presidential Palliative Loan Programme.
This loan programme aims to provide financial relief and stimulate growth for Micro, Small and Medium Enterprises (MSMEs) operating in the Enugu State, according to the government.
According to the Enugu State SME Agency, the programme will offer loan disbursements of up to ₦1 million for MSMEs, while large scale manufacturers can apply for loans up to ₦1 billion.
This financial injection, the government said, will target a wide range of sectors crucial to the Enugu State’s economy, including traders, food service providers, information and communication technology (ICT) businesses, transporters,creatives, artisans, and manufacturers.
“By leveraging this initiative”, said the Agency, “businesses across these sectors can access the financial resources needed to expand operations, invest in innovative technologies, create employment opportunities, and contribute significantly to economic development.”
Interested business owners can apply for the loan programme through the Presidential Palliative Programme’s online portal. The application process requires a National Identification Number (NIN) and Bank Verification Number (BVN) for identification purposes.
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