The underperformance of Micro, Small and Medium Enterprises (MSME) in Nigeria is often attributed to lack of access to finance, inadequate business management skills on the part of the business owners and near absence of MSME banking skills; and insufficient MSME-specific products and services on the part of the banks.
Diamond Bank’s commitment to grow MSMEs is borne out of the understanding that these businesses are the engine room for growth in any economy. It is against this backdrop that the bank, through its MSME Proposition, partners with entrepreneurs with the sole aim of growing their businesses. Till date, over N30billion has been advanced as loans to about 17,000 MSMEs across the country who operate the Bank’s special account for MSMEs – the Diamond BusinessXpress account
The bank also helps build capacity in this segment through its partnership with the Enterprise Development Centre of the Pan African University to teach budding entrepreneurs various skills for running profitable businesses under the Building Entrepreneurs Today (BET) programme.
In addition, Diamond bank hosts various events nationwide on a monthly basis in support of entrepreneurs. These events include the Diamond BusinessXpress Seminar, where entrepreneurs come to learn new ways of running successful businesses; the Diamond Business Clinic, where they get a one-on-one chance to meet with Consultants in various fields; and the Diamond BusinessXpress Club which affords entrepreneurs the opportunity to network and exchange business ideas.
Access to the Bank’s MSME proposition (through the operation of a Diamond BusinessXpress account) also grants customers a chance to enjoy a number of other benefits. These include the Mediloan for healthcare businesses, personal credit cards for businesses, and entrepreneurial guides at discounted prices and easy access to business loans amongst a host of other perks.
The Diamond Business Xpress account is segmented into three variants catering to all MSMEs’. These variants are: Starter –for businesses that have a maximum monthly turnover of N4million, Growing –for businesses with a maximum monthly turnover of N12million; and Established –for businesses with a monthly turnover of N40million.
To be eligible for a loan from this bank on this platform, Diamond Business Xpress Account holder must have a registered business which must have been operated for at least one year, run their Diamond BusinessXpress account for a minimum of 3 months and have a business premises that the bank can visit.
To know more about the Diamond BusinessXpress account, please call Chima on 08029707864 or Adaeze on 08023051914.
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