SMEs: GTBank Extends Loan Repayment For 90 Days

Guaranty Trust Bank Plc has extended the repayment of loan plans for all Small and Medium Enterprises (SMEs) for an additional period of 90days.

The bank clearly understands the challenges faced by SMEs during the pandemic period, has initiated this extension to reduce the effect of the coronavirus pandemic on the SMEs amid a lockdown.

The news was shared via the bank’s social media platforms and was captioned, “As a result of the COVID-19 pandemic, and because small businesses have had to stay closed to stay safe, we’re giving a 90-day moratorium on repayment of the following loans.”

The bank explained that the exempted businesses were those in the food, fashion and quick credit for businesses would enjoy a moratorium of 90-days on such loans before the repayment date is due.

As a result of the Covid-19 pandemic, and because small businesses have had to stay closed to stay safe, we are giving a 90-day moratorium on repayment of the following loans:

- Food Industry Credit
- Fashion Industry Credit
- Quick Credit For Business#GTBankCares pic.twitter.com/DWMeLRFMKX

— Guaranty Trust Bank (@gtbank) April 10, 2020