September 22, (THEWILL) – GFA Technologies, a software company, and leading provider of innovative solutions in various fields has partnered with Wema Bank Plc and Sterling Bank, to provide over 30,000 Small and Medium Scale Enterprises (SMEs) in Ogun state, with single-digit loans to procure efficient tools for smooth operations of their businesses.
Mr Debo Omololu, Chief Executive Officer of GFA technologies, who disclosed this at the weekend, at the Office Headquarters in Abeokuta, said that the firm decided to partner with the two deposit money banks to support the SMEs owners with funds to acquire smartphones and computers for online operations and other tools to run their businesses after engaging them in rigorous workshop training.
He said that the SME operators including Barbers, Vulcanisers, Carpenters, Point Of Sales (POS) operators, Electricians, Hairdressers, and Plumbers, to mention a few, could only afford and access 10% single-digit loans as agreed by the tech company and the commercial banks depending on the size of equity, to fund their enterprises for quality service delivery to customers.
The CEO stated that the firm had developed a website, dimplified.com for small business owners to create their own websites for booking appointments and online transactions to expand their businesses and increase their revenues, especially in the face of economic hardship occasioned by fuel subsidy removal.
“We are partnering with Wema bank and Sterling bank on single-digit loans of both which are here in Ogun state for SME operators for procurement of tools, to cushion the economic hardship by increasing their productivity.
“For those that have gone through training we have been able to connect them with banks that can provide loans for phones, loans for computers even single-digit loans as you know right now loans from banks are 30%, but they can get them at 10% depending on the size of the equity, it is really up to them, not all of them can have access to the phone.
“When a bank gives you a loan it is for specific reasons to buy tools. We also are still putting that together and within the next few months we are also planning to provide loans for tools starting with the barbers and hairdressers”, he added.
