Polaris Bank Announces Disbursement Of N1 Billion Loan To Female-Owned Businesses

As a way of supporting women, Polaris Bank has announced the disbursement of a business support loan of N1 billion to female-owned businesses in the first quarter of 2023.

According to the Bank, the aim of the loan is to tackle the existing financing gap and provide a vital boost to female entrepreneurs.

The loan which impacted close to 20,000 beneficiaries across different sectors, is also expected to help them to thrive, expand their operations, and contribute to the nation’s economic growth.

The sectors impacted include Transportation; Agriculture; Education; Construction; Engineering; General Commerce; Health; Hotel & Leisure; Manufacturing and Media.

Within the quarter, the Bank also celebrated International Women’s Day (IWD) with a well-attended webinar titled: "Advancing Women's Empowerment through the Adoption of Technological Innovation and Digital Education”.

Speaking on the development Nduneche Ezurike, Polaris Bank’s Group Head, Brand Management and Corporate Communication, Nduneche Ezurike, said, “At Polaris Bank, we are dedicated to building an inclusive economy that fosters opportunities for all.

“We recognise the immense talent and potential of women entrepreneurs and understand the challenges they face.

"Through our women and female-owned business loan window, we aim to break down barriers and provide the financial support necessary for businesses being run by women to flourish.”