Entrepreneurs operating at the Edo Production Centre have applauded the Bank of Industry (BoI) and the Edo State Government for improving access to credit at the facility, a move that provides relief to key business challenges faced by Small and Medium Enterprises (SMEs).
In a chat with journalists, the entrepreneurs said with the availability of stable power at the facility and the addition of a seamless access to credit through the BoI at the production centre, businesses at the center are now well-positioned to contribute optimally to expanding the business space in the state.
Mr. Christopher Omoruyi, who benefitted from BoI’s credit facility, and runs a polytene production business at the center, said the bank’s coming will open opportunities for businesses and entrepreneurs to access credit to expand their business.
According to him, “We are very happy that the BoI has set up an operational base at the centre. This ensures that businesses at the centre are placed in close proximity with the bank, a development that makes processing paperwork for accessing credit seamless.
“I remember when I was made to go through a tedious and cumbersome process the first time I accessed credit from the BoI, as I needed a bank guarantor to get the loan. But with the bank in the Edo Production Center, entrepreneurs can easily access credit and the bank can keep a close eye on the companies they are financing.”
An artisan, Mr. Lucky Igbinoba, said the bank’s presence at the facility has shown the commitment of the state government in ensuring that the core needs of businesses operating at the centre are met, especially as regards to access to finance.
Igbinoba said, “We are very happy having the BoI. We are coming together to initiate the process of accessing credit to expand our operations and it is delightful that we wouldn’t have to stress over it, as the bank is right in our premises.”
