Fidelity Bank Expands Access to Affordable Financing for Abuja SMEs

Fidelity Bank Plc has reaffirmed its commitment to supporting small and medium-sized enterprises (SMEs) in Nigeria through affordable financing, business advisory services and capacity-building initiatives.
The commitment was reiterated at the Abuja edition of the bank’s quarterly SME Business Forum, themed “Built to Compete: Positioning Abuja Businesses for Sustainable Growth.” The event brought together entrepreneurs, industry stakeholders and regulatory representatives to discuss ways to strengthen business competitiveness and promote sustainable growth.
Speaking at the forum, Executive Director, North Directorate, Fidelity Bank Plc, Sufiyanu Garba, said the bank was committed to providing entrepreneurs with access to finance, business knowledge, strategic connections and innovative solutions.
He urged business owners to embrace financial discipline, maintain proper records, manage cash flow effectively and leverage technology to improve business performance.
Garba disclosed that Fidelity Bank offers various financing solutions, including working capital facilities, overdrafts, term loans, asset and equipment financing, trade finance and structured lending.
He also revealed that the bank was collaborating with on-lending institutions to provide eligible businesses with intervention funds at interest rates ranging from 10 to 16 per cent, depending on the applicable scheme.
According to him, the initiative is designed to ease financing challenges, particularly for women-owned businesses, youth-led enterprises and businesses operating in green sectors.
The forum also provided opportunities for entrepreneurs to engage regulatory stakeholders on taxation, customs procedures, importation, exportation and other challenges affecting business operations.
Participants commended the initiative, describing it as a valuable platform for gaining practical business knowledge, resolving regulatory concerns and building networks.
The Fidelity SME Quarterly Business Forum has previously held successful editions in Lagos, Kano and Port Harcourt, forming part of the bank’s broader efforts to equip Nigerian businesses with the financing, knowledge and market access needed to build resilient and competitive enterprises.