Quick credit: GT Bank’s offering to aid credit access


Despite the widely acknowledged role of small and medium scale enterprises in fostering economic growth and development, Small and Medium Enterprises (SMEs) have continued to face a variety of constraints. Some of the challenges they face are inadequate infrastructural facilities, shortage of skilled manpower, high rate of enterprise mortality, low level of entrepreneurial skills, lack of a conducive operating environment, restricted market access and cumbersome regulatory requirements.

A key problem for SMEs and salary earners is the issue of access to finance. SMEs, especially in develdrew the government’s attention to Section 22 of the 1999 Constitution, which he stressed, affirms the freedom of the “press, radio, television and other agencies of the mass media,” to uphold the responsibility and accountability of the government to the people.

Longe said: “It would be incongruous and clearly unacceptable for the Kano State Government to arrogate to itself the power, right or authority to oversee how the media perform this constitutional duty conferred on it by Section 22 of the Constitution and, in particular, to determine whether media professionals are misconducting themselves in this regard and abusing their privileges, assuming that any such privilege exists.”

He further argued: “Since the government is frequently at the receiving end of critical reports in the media, even if its intentions are sincere and genuine, there is a high degree of likelihood that it will also be looking for ways of either controlling such critical media or hitting back at journalists or media establishments which have carried critical or unfavourable reports about it.” rejoice with this great Nigerian, elderstatesman and one of the founding fathers of our great party, the All Progressives Congress and wish him more years of joy and good health. “His record in public service and his entire life offer an example to younger generations of Nigerians in the great task of building a united, peaceful and progressive nation.”

He wished members of his family, political associates and friends a happy celebration of the occasion. A community in Ekeremo after soldiers razed it yesterday oping countries like Nigeria suffer from lack of access to appropriate funds from both the money and capital markets. This is due to the perception of high risks resulting in high mortality rate of the business, poorly prepared project proposals, inadequate collateral, absence of verifiable history of past credits and lack of adequate historical records of the company’s transactions. However, in a bid to help encourage financial inclusion for, Guaranty Trust Bank (GTB) Plc has come up with an innovative product tagged Quick Credit to help the growth of this important sector and salary earners.

Quick credit

GTB is offering a time loan product called Quick Credit which is aimed at financing working capital as well as giving funds worth up to three months of an individual’s salary in less than two minutes. This product offer quick loans to salary earners, whose account is domiciled in GT Bank, comes with a convenient repayment plan spread over 12 months at a competitive interest rate of 1.33 per cent per month. Speaking on the product, Chief Executive Officer, GT Bank Plc, Mr. Segun Agbaje, said: “GTBank is regarded by industry watchers as one of the best run African financial institutions and Quick Credit is in line with the Bank’s commitment to offering a superior banking experience that is tailored to its customers’ financial needs, which include access to non-restrictive cash flow. “Basically, fintech is doing financial transactions from outside the banking hall. I think in terms of innovation fintechs are creating payment platforms and banks are capable of creating payment platforms as well. “So, we just need to start thinking more like fintechs which is what we are doing. That is why when we are launching retail products we launch them online where you can access them on your phones.”


Salary earners whose account is domiciled in GTBank (if you don’t have a salary account with GTBank you can open one to access the loan). Salary earners who have received a monthly payment from the same employer for at least three consecutive months.


Repayment plan/ interest rate

Quick Credit offers a convenient repayment plan spread over 12 months at a competitive interest rate of 1.33 per cent per month. There are no hidden charges incurred, it is cheap, easy to access and readily available. As regards small businesses, repayment is structured in two ways: Monthly interest payments and quarterly principal repayments (option is only available for schools) Equal monthly repayment of principal and interest.


Funds are disbursed instantly, eligible customers can apply via GAPs/ GAPslite platform, access to 50 per cent of average annual turnover and one can open a corporate account and operate it for 12 months before applying for the credit facility.

How to apply

Dial *737*51*51# from the phone line that is linked to your salary account while in the case of small businesses, select SME Credit and click on QuickCredit for Small Business on GAPs/GAPsLite platform and follow the prompts as Quick Credit is also available on all GTBank online and mobile banking platforms (Internet Banking, GTWorld, GTBank Mobile App).

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