{"id":118260,"date":"2025-05-03T21:19:56","date_gmt":"2025-05-03T20:19:56","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=118260"},"modified":"2025-05-03T21:19:56","modified_gmt":"2025-05-03T20:19:56","slug":"fg-disburses-n1-48bn-loan-to-imo-businesses","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/fg-disburses-n1-48bn-loan-to-imo-businesses\/","title":{"rendered":"FG Disburses N1.48bn Loan to Imo Businesses"},"content":{"rendered":"<div id=\"m#msg-f:1831124129990046156\" class=\"mail-message expanded\">\n<div class=\"mail-message-header spacer\" style=\"text-align: justify;\">Daniel Adaji<\/div>\n<div id=\"m#msg-f:1831124129990046156-content\" class=\"mail-message-content collapsible zoom-normal mail-show-images \" style=\"text-align: justify;\">\n<div class=\"clear\">\n<div><\/div>\n<div>More than 29,000 micro and small-scale business owners in Imo State have received a total of N1.48bn\u00a0 in loans from the Federal Government, under an initiative aimed at boosting economic recovery and job creation.<\/div>\n<div><\/div>\n<div>The loans, disbursed through the Bank of Industry (BOI), are part of the N200bn Special Intervention Fund introduced under President Bola Tinubu\u2019s prosperity agenda to support Micro, Small, and Medium Enterprises (MSMEs).<\/div>\n<div><\/div>\n<div>At a town hall meeting held Friday in Owerri, BOI\u2019s Managing Director, Dr. Olasupo Olusi, revealed the disbursement.<\/div>\n<div><\/div>\n<div>According to Olusi, \u201cApplication is open to the public, and the Bank of Industry facilitates verification of applicants\u2019 data to ensure transparency and ease of disbursement. We call on all stakeholders, community leaders, youth groups, women\u2019s associations, and local governments to act as active advocates of the scheme.\u201d<\/div>\n<div><\/div>\n<div>Each business owner is eligible to access up to N5m in loans at an annual interest rate of 9 per cent. The loan package includes a three-month moratorium and a three-year repayment window.<\/div>\n<div><\/div>\n<div>He said the bank is also collaborating with groups like the National Association of Small and Medium Enterprises (NASME) and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) to mobilize more business owners to access the funds.<\/div>\n<div><\/div>\n<div>Mr. Ugochukwu Ohaegbu, Secretary of NASME in Imo, advised local entrepreneurs to ensure they are properly registered and affiliated with business groups to improve their chances of benefitting from the program.<\/div>\n<div><\/div>\n<div>\u201cIt is essential for business owners to be properly documented and aligned with structured groups to ensure their access to these funds is streamlined,\u201d he said.<\/div>\n<\/div>\n<\/div>\n<div class=\"mail-message-footer spacer collapsible\" style=\"text-align: justify;\"><\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Daniel Adaji More than 29,000 micro and small-scale business owners in Imo State have received a total of N1.48bn\u00a0 in loans from the Federal Government, under an initiative aimed at&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":79045,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-118260","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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