Loans Lagos – The Maritime Microfinance Bank Ltd. (MMFB) had earmarked N201 million for disbursement as loans to Micro, Small and Medium Enterprises (MSMEs) in 2016. This is contained in a statement made available to newsmen on Monday in Lagos by the Acting Managing Director of the Bank, Mr. Oluwaseyi Hamilton. Hamilton said while N120 million would be disbursed as micro-loans, N81million would be disbursed by the bank as SME loans. He said the planned loan disbursement was meant to support the Federal Government’s drive to diversify the nation’s revenue base, create employment and encourage small and medium enterprises. “We have since inception focused on empowering micro-entrepreneurs and low income earners by providing financial services in a sustainable and ethical manner. “In this regard, we have developed a variety of loan products specifically designed for individuals running micro, small and medium enterprises,’’ Hamilton said. He said, “Our processes and procedures are also tailored and customised according to the requirements of our customers.’’ “We take pride in providing the fastest turn-around-time for processing loan applications. “We have, since inception supported the growth and
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development of small businesses. “We have also been consistent in providing the much-needed financial support and solutions to businesses and individuals in the maritime industry and the larger economic space,’’ Hamilton said. He said the MMFB, which experienced phenomenal growth within its first year of operation, would continue to deploy modern technology to provide fast and more efficient services. “We actively seek to understand our customers’ challenges, expectations and needs with the aim of meeting and surpassing their expectations in our service delivery,’’ Hamilton said. The News Agency of Nigeria (NAN) reports that MMFB was incorporated on Jan. 24 2014 to carry out the business of micro-banking in Nigeria and to arrange, raise funds or loans. The bank, which was licensed by the Central Bank of Nigeria (CBN) and fully insured by the Nigeria Deposit Insurance Corporation (NDIC), commenced operations on Dec. 1, 2014. A banker and former Executive Director, Finance and Administration of the Nigerian Ports Authority (NPA), Mr. Adetola Atekoja, was appointed the Chairman of the Bank last year. (NAN)