• Thursday, July 18, 2024
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Firm disburse N1.5bn loan to SMEs in nine months

Firm launches Proc360 to bridge SMEs’ supply chain challenges

Auto Bucks Lenders, a subsidiary of Alert Group, has disbursed over N1.5 billion in loans to small and medium-sized enterprises (SMEs) within the past nine months through its Ibadan branch.

The company announced this on Thursday, highlighting the streamlined application process that has facilitated easier access to funding for entrepreneurs.

Read also: We exclusively focus on SME lending – Auto Bucks CEO

“Auto Bucks Lenders, a subsidiary of Alert Group and the major SME lending arm, has achieved remarkable success through its Ibadan branch. Over the past nine months, the branch has disbursed almost N2 billion in loans to entrepreneurs, following its impressive accomplishment of maintaining a PAR Zero in its first year of business,” the statement read.

The company’s efforts to minimise paperwork and simplify the loan application process have not only increased loan disbursements but also enhanced customer satisfaction and trust. Auto Bucks Lenders operates a branch network that includes Lagos, Ibadan, and Abeokuta, and the company is poised for further expansion.

The firm projects that it will reach N3 billion in loan disbursements by its first anniversary, demonstrating its commitment to supporting SMEs by providing easy access to financing. “With a branch network that spans Lagos, Ibadan, and Abeokuta, Auto Bucks Lenders continues to support small and medium-sized enterprises by providing easy access to financing,” the release noted.

In a related development, Alert MFB, another subsidiary of Alert Group, has launched a new mobile app designed to redefine the banking experience for its users. The app offers a comprehensive suite of services, including funds transfer, bill payments, airtime recharge, and account management, all accessible at users’ fingertips.

“We are excited to announce the release of our innovative new mobile app, designed to set a new standard for app users. This sleek and fast app goes beyond the normal functions, offering a comprehensive suite of banking services including funds transfer, bill payments, airtime recharge, and account management,” the firm explained.