Nigeria’s leading digital bank, ALAT by Wema, has launched Quick Loan, designed to assist entrepreneurs, startups and corporate customers scale their businesses. According to the lender, the additional feature which is hosted on ALAT for Business, its corporate internet banking platform, will help small/mediumscale enterprises (SME) and corporate customers access loans between N100,000 to N10 million.
It also stated that Quick Loan will enable ALAT for Business users to access loan services virtually from any location without the need to locate a physical branch. Product Manager ALAT for Business, Samuel Robson, in a statement, highlighted the pivotal role that SMES play in the economic, employment and export growth in Nigeria. However, “despite the significant contribution of SMEs to the Nigerian economy, challenges persist that hinder the growth and development of the sector,” said Mr Robson. He stressed: “Loan access has been one of the most challenging factors faced by this sector and we understand the need to support SMEs by providing easy access to the loans they seek.