LAPO microfinance bank intends disbursing loans of N154 billion to Nigerian Micro, Small and Medium Enterprises (MSMEs) in 2019 for their encouragement and sustainability which is N17 billion more than the N137 billion it disbursed last year.
The Managing Director of LAPO microfinance bank, Godwin Ehigiamusoe disclosed this at the bank’s eighth Annual General Meeting (AGM) held in Lagos.
“There is a huge funding gap for Micro, Small and Medium Enterprises, so as a microfinance bank, committed to help bridge that funding gap, our major operation is supporting credit.
We prioritise giving loan to those businesses. This has been our commitment right from when we were a non-profit organisation.” Ehigiamusoe added.
LAPO is committed to supporting SMEs because they create employment and economic wealth through the expansion of their output.