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FirstBank boosts education with new product



FirstBank boosts education with new product

As educational institutions get set to resume after the long holidays, FirstBank has announced that its “FirstEdu” educational solution is specifically designed to support schools in need of improvement and growth in meeting their medium and long-term goals.
In a statement, the lender noted that the FirstEdu product includes FirstEdu portal and FirstEdu loan, adding thatFirstEdu loan is targeted at private Nursery & Primary, Secondary and A-Levels schools. According to the statement, the product offers opportunity for private schools to access flexible funding to meet urgent cash flow needs, replace old furniture and equipment, as well as refurbish dilapidated buildings and classroom blocks.
The statement said: “With this product, school owners/proprietors can stay ahead of competition in providing educational services and support to the target population by maintaining acceptable standard infrastructure at all times. The product enables customers access up to N20 million facility with no tangible collateral, apart from domiciliation of school fees account with the Bank. This reduces the cost of borrowing to the customer and eliminates the challenges posed by the provision of additional demanding collaterals.”
Besides, it explained: “ FirstEdu portal is a robust web-based enterprise portal that enables educational institutions (private Nursery & Primary, Secondary, A-Levels schools and Tertiary Institutions) manage academic, administrative, professional, logistics and payment challenges. The basis for its robustness is to take the stress of logistics and payment challenges off schools, as they focus on meeting the year-long and medium-term objectives of their school(s).”
According to Abiodun Famuyiwa, Group Head, Products & Marketing Support, First Bank of Nigeria Limited, with FirstEdu, private schools across the various tiers of education in Nigeria; elementary, secondary and tertiary, have the right tool to boost their business to the level they desire.
Customers and stakeholders according to the statement, are enjoined to visit any FirstBank branch or contact lender on our social media channels for further information on FirstEdu.

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