Professor Musibau Babatunde, the Commissioner for Budget and Economic Planning, announced this in a statement issued on Tuesday.
Babatunde explained that the N500 million loan is part of the Sustainable Actions for Economic Recovery (SAfER) initiative launched by Governor Seyi Makinde in the aftermath of the removal of fuel subsidies and the floating of the exchange rate, which resulted in a sharp rise in commodity prices, and that the effort was aimed at stabilizing the people and boosting the economy.
He stated that SME financial assistance, which has a low interest rate and a flexible repayment schedule, is available to all types of micro and small-scale business owners.
Babatunde, who is also the Chairman of the SAfER Programme’s SME Loan Support sub-committee, invited all interested small and micro-business owners in the state to pick up the form for free at approved Microfinance banks in each of the state’s seven geo-political zones.
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Full range Microfinance Bank, Old Zenith Bank Building, Iwo Road, Ibadan; Isale Oyo Microfinance Bank, Oyo Town; and Excel Microfinance Bank, Eruwa are among the Microfinance institutions where application forms can be obtained.
NUT Oke Bola Microfinance Bank, Oke Ado, Ibadan; Caretakers Microfinance Bank, Ogbomoso; Kadupe Microfinance Bank, Shaki; and Ebedi Microfinance Bank, Iseyin are among the others.
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