Rosabon Financial Services, a non-banking financial service provider, has announced a new loan facility of up to N10 billion for eligible small businesses and corporate organisations in Nigeria.

In a statement, Rosabon said the fresh facility is part of its continued commitment to supporting Nigerian businesses, especially in the face of the unraveling impact of the second wave of the COVID-19 pandemic.

All businesses registered in Nigeria for more than one year are qualified for the facility, which is available within 48 hours of application. Interest rate is at a single digit, with repayment tenor at 24 months.

Speaking on the facility, Managing Director, Rosabon Financial Services, Chukwuma Ochonogor, stated that this year’s facility is part of the organization’s commitment to sustain support for business owners, limit the damage caused by the coronavirus pandemic in the past year, and help businesses to become more resilient and sustainable even in the wake of the second wave of the pandemic.

He said: “We know some business owners have experienced revenue loss, and some are still experiencing the revenue loss. That is why we have introduced loan facilities that will help their business operations to thrive. We hope as we journey with our business community by deploying our loan facility and expertise, we would be providing a much-needed financial cushion required to navigate the new normal.”