Guaranty Trust Bank has granted a 90-day moratorium to Small and Medium Enterprises (SMEs) loan beneficiaries as part of its efforts to reduce the effect of the Coronavirus pandemic on their businesses during the ongoing lockdown.
The bank hinged the gesture on the fact that small businesses have had to stay closed to stay safe during the lockdown.
The bank explained that the exempted businesses are those in the food industry, fashion industry, and Quick Credit for businesses.
The nation’s capital, Abuja; Lagos and Ogun States have been badly hit by the effect of COVID-19 lockdown order by the government and it is expected that thousands of the affected SMEs in the listed industries will benefit largely from the lender’s gesture
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