Access Bank Plc, in its strive to grow its customer base and strengthen its position in the retail segment of the market, has launched its TraderLite Account for micro-businesses. TraderLite loans target micro-business owners whose businesses have turnover of N50,000 to N1 million and operate in their own name or registered business name.

TraderLite is a variant of the Diamond Business Advantage account within the Bank’s small business portfolio. It is specially designed to provide financial inclusion for micro businesses, and equip them with the skills to grow their businesses.

There are two types of TraderLite: DBA TraderLite Individual and DBA TraderLite Business. The former is for individuals with unregistered businesses while the latter is for registered businesses. The Diamond Business Advantage seeks to add value to Micro, Small and Medium Enterprises and empower Small Business Owners to leverage smart banking in growing their businesses. It offers market linkages, increased referral base and networks to enable them access new markets for their products and services.

The offer includes such networking opportunities as Business Clubs, Business Clinics and Business Seminars where Small Business Owners can expand their base through interacting with other Micro, Small and Medium Enterprises.

The monthly Business Clinic is the bank’s advisory service for small businesses. It aims to strengthen the managerial capacity of small businesses. Participating customers interface with subject experts or successful entrepreneurs on a one-on-one basis, and receive solutions that address challenges that are specific to their businesses. They are thereby assisted to become better managers of their businesses and better customers of the bank.

The Advisory Help Desk provides information to small businesses, including newsletters on industry trends; best marketing practices; industry-oriented guidance on how to structure better cash flows; counselling on business planning; marketing strategies; and other business-related issues. The Advisory Help Desk helps to resolve issues concerning how to register a business, common legal and tax matters facing small businesses and structural challenges of small businesses.

The Advisory Help Desk also addresses corporate governance issues in small businesses, which typically requires administrators to possess specialised skills, industry exposure and good knowledge of the marketplace. Micro and small business customers who need further support are referred to consultants who diagnose and proffer solutions to their problems.

Victor Etuokwu, Executive Director, Retail Banking, Access Bank Plc, on the debut of TraderLite, says: “The future of Nigeria’s economy is Small and Medium-Scale Enterprises because they can provide more than enough jobs to the unemployed if empowered. And that is why the bank’s passion is to offer more than financial services to its customers and also work with them in growing and expanding their businesses. Whichever category you fall into; we are here to work with you to take your business to a whole new level.”

Micro Business Owners interested in accessing TraderLite should contact any branch of Access Bank Plc. for terms and conditions.

Contact Us if you or your business need help in accessing the TraderLite Loan