Fidelity Bank Promises Better Deal For SMEs

Fidelity Bank Plc,has implored  Nigerians to  take advantage of its various SME targeted products and services in the country.

The commercial bank explained that the gesture was in line with its mission to bridge the  huge  capacity building gap and help SMEs in Nigeria build the necessary capacity for entrepreneurial success

The bank currently offers  packages  to position Nigerian SMEs for sustained business growth. These product offerings have resulted in tremendous success for the benefiting SMEs and also setting them up for sustainability.

Some of these products,  include, the Fidelity SME Academy and Fidelity SME Forum.

The bank said  the Fidelity SME Academy, is a platform where prospective and existing customers enjoy free capacity building support services such as tailored one-on-one virtual business advisory services and access to business management capacity building programs with alliance partners.

It added that the Fidelity SME Forum, is a 30-minute experience and knowledge sharing radio and Instagram Live programme aimed at empowering Nigerian entrepreneurs with knowledge, know-how and expertise that will enable them to build successful businesses. The programme currently airs on Inspiration FM 92.3 in Lagos on Tuesdays live at 6:30 AM, with a repeat broadcast on Thursdays at 6:30 PM on the same station.

The bank also provides SMEs with access linkages to outsourcing services providers and shared services platforms that cover services such as technology services, software applications, website design & development, network infrastructure, social media, bookkeeping, accounting & internal control services, HR services, payroll management service, audit services amongst others.

Some of these bespoke financing/loan products include, Fidelity EduLoan Offering (for schools), Fidelity Private Medical Support Scheme (for hospitals) and Fidelity Pharmacy Support Scheme (for pharmacies).

Others are the Commercial Support Short Term Loan (for traders), Traders Support Facility, Commercial Support Overdraft (CSO) and the Fidelity Distributors’ Finance Scheme (for distributors of Fast Moving Consumer Goods companies).

A beneficiary of the Fidelity Bank’s SME fund, Theophilus Nwankwo, who produces a wide range of plastic products in Lagos, said it was the bank that helped revive his business after a downturn.

 He recounts his experience and lessons learnt in his entrepreneurial journey. His business was forced to close after a large client placed a major order for his products.

Nwankwo said he needed a loan to purchase an advanced equipment to fulfil the large order, but it was 2020 and the country was still grappling with the economic recession occasioned by the COVID-19 pandemic.

Fidelity Bank provided him with the funds he needed to keep his end of the bargain.

Nwankwo is one of many Micro, Small, and Medium Enterprises (MSMEs) struggling to stay afloat.