from applicants seeking emergency loans for small businesses hit by the coronavirus pandemic, will no longer “be mandatory.”The CBN had announced a N50 billion package for small businesses affected by coronavirus, to allow them stay in business and not lay off workers.
According to the Ministry of Industry, Trade and Investment, the million micro, small and medium-scale enterprises, MSMEs, account for more than 84 per cent jobs in the country. He said the application initially required a business plan and they outsourced to a third party to help applicants. “This is to avoid applicants being charged excessively by other consultants and to help people during the stay at home period and to make the application process easy.
Source: News Formal (newsformal.com)
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