USSD (Unstructured Supplementary Service Data) is a technology that has revolutionized everyday banking, making it more accessible and convenient for users. Here are some of the key benefits of USSD in everyday banking:
1. Accessibility: USSD does not require a smartphone or internet connectivity. It can be accessed using any mobile phone, ensuring that a wide range of users can avail banking services without the need for expensive devices or data plans.

2. Convenience: With USSD, customers can perform a variety of banking transactions, such as balance inquiries, fund transfers, bill payments, and mobile top-ups, right from their mobile phones. On Advans Nigeria USSD service, you can even request for a loan instantly. This eliminates the need to visit physical bank branches or ATMs, saving time and effort.

3. Financial Inclusion: USSD has played a crucial role in promoting financial inclusion, especially in underserved areas and among the unbanked population. It allows individuals who may not have access to traditional banking channels to participate in basic financial activities securely and efficiently.

4. Security: USSD transactions are encrypted and secured, ensuring the safety of user data and sensitive information. Banks implement robust security measures to protect customer accounts, reducing the risk of fraud or unauthorized access.

5. Cost-Effectiveness: USSD transactions are generally more cost-effective compared to traditional banking channels. Since it operates on basic telecommunication infrastructure, the costs associated with maintaining and expanding the USSD system are relatively lower, resulting in cost savings that can be passed on to customers.

6. Real-Time Transactions: USSD transactions are processed in real-time, providing instant updates on balances and transaction statuses. This allows users to have better control over their finances and make informed decisions promptly.


7. Language and User-Friendly: USSD menus can be designed to accommodate multiple languages, making it user-friendly for individuals from diverse linguistic backgrounds. Moreover, the simple and intuitive nature of USSD menus ensures ease of use for both tech-savvy and non-tech-savvy users.

USSD technology has undoubtedly revolutionized everyday banking by providing accessible, convenient, and secure financial services to a wide range of users. Its simplicity and cost-effectiveness make it an invaluable tool in driving financial inclusion and empowering individuals with basic banking capabilities.

To subscribe to Advans Nigeria USSD service, just dial *5644# to get started.
For tailored business financing solutions, Advans Nigeria provides loan, savings and investment products designed to meet your specific business needs.

Visit our website at www.advansnigeria.com, contact us at 07000238267, or reach out via WhatsApp at 08151770000 today.

We are currently accepting applications for the following positions;

-Internal Audit Officers -Ibadan

-Relationship Officers- Ibadan & Oyo

Apply via our portal by clicking on the below link as application closes on Friday June 9, 2023.

https://advans.aragon-erh.com/new_rec_portal/index/NGA


#job #recruitment #relationshipofficer #internalaudit

Expanding Horizons: Leveraging Our Education Loan Offer to Fuel School Growth and Expansion
School owners play a crucial role in shaping the future of education globally, but often they are faced with challenges when it comes to funding growth and expansion initiatives.

At Advans Nigeria, we understand these challenges and that's why we offer an education loan package specifically tailored to fuel school growth and expansion. With our loan solution, school owners can access the necessary financial resources to bring ambitious expansion plans to life, whether it's constructing new buildings, renovating existing facilities, or investing in modern infrastructure.

We also provide financial assistance for hiring and training teachers, administrators, and support staff. By investing in human capital, school owners can ensure a high standard of education and offer a diverse range of programs to cater to the needs and aspirations of their students. Moreover, our education loan offer facilitates the adoption of advanced educational technologies. In today's digital age, integrating technology into the learning process is essential. Our loan package enables school owners to invest in state-of-the-art equipment, software, and learning tools, empowering teachers, and students with innovative resources.

By embracing technology, schools can enhance teaching methodologies, promote interactive learning experiences, and prepare students for the challenges of the future. With our education loan package, school owners can create an environment that fosters innovation, collaboration, and academic excellence.

If you're a school owner in Nigeria looking to fuel your school's growth and expansion, explore education loan options available at Advans Nigeria. Our loan program is a powerful tool that can help you realize your growth and expansion goals.

Together, let's fuel school growth, expand horizons, and shape the future of education in Nigeria.
Visit our website at www.advansnigeria.com/education or contact us at 07000238267 or via WhatsApp at 08151770000 today!

New Job Vacancies

CREDIT RISK ANALYST
EXPERIENCE SAVINGS & DEPOSIT OFFICERS ( LAGOS,
EXPERIENCED RELATIONSHIP OFFICER (SOUTH EAST)
EXPERIENCED RELATIONSHIP OFFICER (SANGO-OTA)
EXPERIENCED RELATIONSHIP OFFICER (LAGOS)
RELATIONSHIP OFFICER (LAGOS AND SANGO-OTA)
RELATIONSHIP OFFICER (South East)
SAVINGS & DEPOSIT OFFICERS (LAGOS)


kindly apply via Aragon HRIS portal by clicking on the link below as application closes on Monday May 22, 2023.

https://advans.aragon-erh.com/new_rec_portal/index/NGA

In recent years, Nigeria and the rest of the world have been grappling with high inflation rates that have reached as high as 21.5% as of November 2022 in Nigeria (https://www.cbn.gov.ng). This has had a devastating impact on the Nigerian economy and the everyday citizens who are trying to make ends meet.

Inflation is the rate at which the general level of prices for goods and services is rising, and subsequently, purchasing power is falling. High inflation means that the cost of living is increasing at a faster rate, making it harder for people to afford necessities such as food, housing, and healthcare.

One possible way to combat inflation is to increase wages, but when it’s not forthcoming, follow these suggestions to manage the impacts;

Save Money on Transportation
If the ever-increasing fuel prices in Nigeria are blowing up your budget, your first course of action could be limiting your driving as much as possible. Running errands in batches, carpooling or using public transportation, or walking anywhere within a short distance can also save you substantial money at the end of the month.

Buy Your Food in Bulk
A typical Nigerian spends up to half of his/her income on food, so lots of money can be saved if you can cut expenses in this regard. Make sure you pay attention to the prices of goods and choose the family-size package if it is cheaper per unit.
For example, church members and staff of organizations can pool their funds together towards making a bulk purchase. Afterwards, the food will be divided according to the contributions made.

Eat Out Less
Studies have shown that it is cheaper to prepare your meal at home than to eat outside. The amount spent on eating a meal in a standard restaurant will be enough to prepare quality 3 square meals at home. Take a break from takeaway and restaurant meals and you will be surprised at how much you will be able to save in a month.

Negotiate Lower Prices
You can reduce everyday expenses by negotiating over the price of goods or services until a mutually agreed-upon price has been determined. Getting goods and services at lower rates each time will have an impact on the general monthly expenses.

Postpone Non-Immediate Needs
Not everything will always be more expensive. Some price hikes could be temporary, and, in that case, it may pay to hold out as the price might go down later. Purchases that are not immediately necessary can be deferred and you might be able to get a better deal at a later date.


Earn Money on Your Savings
When inflation happens, there is a fall in the value of money generally because of a sudden increase in the price of commodities. Putting your money in a high-interest yield savings account where it will earn higher interest can reduce the eroding effects of inflation.


At Advans La Fayette Microfinance Bank, we boast of short and long-term Savings accounts with high-interest rates. With our competitive interest rates, you can watch your savings grow faster than ever before. Our account offers low minimum deposit requirements, easy online access with our Mobile App (Adspire) and effective customer support. Plus, with NDIC insurance, you can rest assured that your money is safe and secure. Don't wait any longer, open a savings account with us today and start earning more on your money!"

For Inquiries? call 07000238267, 08151770000 (WhatsApp) or visit our website www.advansnigeria.com

2003206599

The CBN (Central Bank of Nigeria) had on Wednesday, October 26, disclosed its plan to redesign, produce, release and circulate N200, N500, and N1000 notes. The decision is a bold step towards bringing back large volumes of money circulating outside the banking system.

The apex bank in Nigeria will be introducing the redesigned notes into the financial system on December 15, 2022, and has given January 31, 2023, as the expiry date for the legal tender of the old notes.

Based on CBN’s directive, all Advans Nigeria branch networks are open from Monday to Saturday to accommodate all cash that will be returned by our customers.


What the decision means to Nigerians

Considering the time frame, it will trigger a rush by individuals to banks to deposit the old notes, as well as withdraw after the new notes come into circulation. There will be growing long queues in banking halls as the expiring date approaches.

Why not beat the rush; by visiting an Advans La Fayette Microfinance Bank close to you now to deposit your cash and save yourself from unnecessary inconveniences later on?

It is assumed that rural dwellers who live far from where banking services are available would experience difficulty depositing the old notes, as well as, initially, obtaining the new ones when it’s in circulation. For people in this category, Advans Nigeria mobile tellers can bridge the gap. Whether you are busy with business and it's difficult to visit the bank or the bank is far away from your location, our mobile tellers will assist you in collecting the cash and deposits into your bank account instantly.

Kindly note that the new and old currencies will be in circulation concurrently until January 31, 2023, when the old currency shall no longer be legal tender. The new banknotes when in circulation can be accessed in any Advans Nigeria branch networks.

Winners have emerged in the inaugural Advans Essay Competition organized by Advans La Fayette Microfinance Bank Limited for students between ages 8 and 13, which held at the Grand Bee Suites, Lagos, today, after an objective evaluation process by a selected panel of judges.

Advans La Fayette MFB Limited is a leading microfinance bank providing simple and efficient financial services to small businesses, individuals, and corporate organisations.

Leading over 100 entrants across Lagos, Ondo, Kwara, Oyo and Anambra States, 11-year-old Omidiji Dabira of Good Fortune Model International College, Ibadan, Oyo state, emerged the winner of the essay competition, tagged: My Favourite Teacher.

Nine-year-old Purity Chukwudubem Chetachi of Star of Hope Montessori Schools, Alapere-Ketu, Lagos, and 12-year-old Abegunrin Heritage Abiodun of Juli Standard College, Oke- ola, Oyo State, emerged first and second runners-up, respectively.

Speaking at the Prize Presentation event, the Managing Director, Advans La Fayette MFB Limited, Gaëtan Debuchy, said that the Competition is in line with the company’s objective to help children develop effective writing skills and boost the education sector in Nigeria.

“Writing is hard work and a dying art, which is why I am super elated by the brilliance and commitment demonstrated by these young ones. This goes to show that the future of these leaders of tomorrow is truly bright.”

He applauded the support and endorsement by the Lagos State Ministry of Education, school administrators and other government representatives for their roles in ensuring the success of the competition.

The ceremony, which had in attendance government dignitaries, school owners and proprietors, and other stakeholders in the educational sector saw the winners go home with cash prize of N100,000.00, N50,000.00 and N30,000.00 for the first, second and third positions respectively, among other gift items.

Speaking on the evaluation process, the Chairman, Panel of Judges for the essay competition and Chief Examiner WAEC and NECO, Lagos State, Akinseye Samuel Ayo said the impartial grading assessment process that midwifed the shortlisted winners was solely based on the sheer academic brilliance the children poured out on the pages of paper.

Advans Nigeria is a member of Advans Group, a leading international microfinance group currently serving over 1.1 million clients in ten countries including Cambodia, Cameroon, Ghana, Democratic Republic of Congo, Cote d'Ivoire, Pakistan, Nigeria, Tunisia and Myanmar. For more than 15 years, the bank has offered a complete range of financial services that has helped build over 4 million small businesses.

Visit Advans Nigeria website @ www.advansnigeria.com

Media Contact:
Kayode Abraham
Head, Marketing and Communications
Advans La Fayette MFB Limited.
kabraham@advans-lfmfb.com
+2348075891103

Google is the world’s most-visited website. The site currently holds a large percentage of the search engine market share.

Google Business Profile is a free business listing from Google designed to help promote local businesses online. It allows MSMEs to provide details and photos of their businesses, including location, services, and products. It improves local Search Engine Optimization (SEO) for their businesses.

Google My Business makes it easy for MSMEs to promote their products and services online by increasing visibility and improving their chances of showing up in search results. To create and verify a Google Business Profile, you must have a business with a physical location (like a restaurant or store) or a business that provides services by meeting with clients in other locations.

BENEFITS OF GOOGLE MY BUSINESS

Here are some benefits of Google My Business profile to your business;

1. It’s free and easy to use:
Google My Business is free and easy to use and any business can utilize it to promote their business or service. Creating and verifying your profile can be done in a matter of hours. If you have more than one sales point, you can do a bulk verification and verify all the profiles.

2. Show Up in Google Map Searches:
While a quick Google search is effective for narrowing down options, especially for consumers on a mobile device, a large percentage of people use Google Maps to locate businesses nearby. When people that need your services do a google search and find your business easily on google and very close to them, it’s most likely you will make that sale.

3. Build trust with customer reviews:
One of the biggest hurdles consumers face today is building enough trust with a business to confidently make a purchase. Most people read reviews before making a purchasing decision.
With a Google My Business listing, customers will be able to review your business and leave feedback for others to see.

4. Google My Business Provides Insights That Give You Helpful Information:
Google My Business comes with some technical features that provide insights on important areas to assist you in creating strategies and in making decisions. This tool enables you to access statistics and insights that can help determine where your audience is coming from.
With this insight tool, you can determine the number of profile views, website visits, direction requests, and call requests.

5. Increased website traffic:
One common challenge MSMEs face is how to get quality traffic to their website. While there’s no way to completely avoid the ups and downs throughout the year, having a Google My Business listing can greatly help boost the traffic to your website.
Just by having a listing and showing up in local searches, businesses on Google My Business are more likely to have clicked on the website. So, your local listing will grow your traffic over time if you put in the work.

Creating a free profile is a great way to increase brand visibility across Google services. Information from a Google Business Profile may appear in Google Search, Google Maps, and Google Shopping.

Chinedu took a loan from Kola and promised to pay it back in 2 weeks. Two weeks came and passed, and Chinedu did not pay it back. Upset that Chinedu defaulted, Kola reached out to him to ask for an update.

Chinedu apologises for the delay and promises to pay the following week. However, Chinedu could not understand why Kola felt upset; after all, they were friends, and he was not going to abscond.

Was Kola right to be upset with Chinedu?

This takes us to the 5Cs of Credit - a system often used by lenders to measure the creditworthiness of potential borrowers. It is about estimating the chances of default by borrowers and, consequently, the risk of a financial loss for the lender.

The 5 Cs of credit are CHARACTER, CAPACITY, CAPITAL, COLLATERAL, and CONDITIONS.

CHARACTER: This can be defined as the borrower's reputation or track record for repaying debts. This information appears on the borrower's credit reports generated by the credit bureaus.

The general rule is that the higher a borrower's credit score, the higher the likelihood of loan approval. Borrowers with an excellent credit score will also have access to higher loan offers than those with a lower credit score.

CAPACITY: Capacity measures the borrower's ability to repay a loan by comparing income against recurring debts. It comes down to how much money you make and how much debt you owe.
The lower an applicant's Debt-To-Income ratio (DTI), the better the chance of qualifying for a new loan.

CAPITAL: Lenders also consider the borrower’s capital invested into a business. A substantial financial contribution to a business investment by the borrower decreases the chance of default. This makes decision-making easier for lenders in terms of loan disbursement.

COLLATERAL: A borrower with the right collateral will find it easier to access a loan than a borrower without collateral. Collateral assures the lender that if the borrower defaults on the loan, the lender can get something back by repossessing the collateral.

Loans backed with collateral are sometimes called secured loans because they are less risky for lenders to issue.

CONDITION: Lastly, one of the metrics Lenders consider is the conditions surrounding the loans. This may include the length of time an applicant has been employed at their current job, how well the industry has performed, and future job stability.

For business loans, conditions may include how a borrower intends to use the loan or the type of business the fund will be invested into. This may also include the amount the borrower is asking for and the interest rates.

If Borrowers can make use of the information highlighted above, their credit score will increase and it will be easier to access higher loans when they repay the previous loans.

Advans Nigeria is the best of all the microfinance banks in Nigeria in terms of loan offers with low-interest rates and an easy repayment structure.

Visit our website @ https://www.advansnigeria.com/business/loans/

Call 07000238267 or WhatsApp 08151770000 for more information.

For many years, Adenike, a micro-entrepreneur who ran a groceries store in Offa, Nigeria, didn’t have a bank account for basic savings transactions. She earned about ₦ 2,000 a day and kept her savings with thrift collectors who are most times unreliable and typically pays no interest on the money saved with them.

Adenike, didn’t have a choice because most formal banks lacked extensive branch networks, especially outside of major cities. Adenike heard about the Bank Mobile Tellering System, subscribe to it, and started making deposits daily in her bank account.

In Nigeria, a large number of people live in areas that lack basic banking services. While the number of Nigerians who own a bank account has been steadily increasing, research shows that there is still a long way to go in closing the gap.

How is ADVANS LA FAYETTE MICROFINANCE BANK helping to reduce financial gaps?

For almost a decade now, Advans Nigeria has been helping to provide banking services to marginalized groups in Nigeria using bank mobile tellers and agency banking.

With Advans mobile tellers, clients won't need to travel long distances or leave their businesses for a long period of time just to make a cash deposit in the bank. We take this burden off the clients while they have more time to focus on their business.

Agency banking is also one strategy deployed by Advans Nigeria to reach the unbanked and ultimately close financial inclusion gaps in Nigeria.

Call 07000238267 or Whatsapp 08151770000 to learn more about our product and services.

Visit Advans Nigeria website @ www.advansnigeria.com

Before you decide what to do with your money, consider some of these few facts you can use to save smartly.

Develop a Saving Habit:

Do not save after spending but spend after saving. Decide in advance how much money to deposit into a savings account each month. This small amount set aside from every paycheck will have a huge positive impact. It all comes down to discipline.

Cut Your Spending to Save:

You have to live within your means in order to have the money to set aside for savings.
There are many ways to cut household expenses and save each month. An excellent place to start is to carefully review your recent monthly account statement and highlight some expenses you made in the month that is avoidable.

Save and Earn:

One interesting fact about saving is that you can earn a high interest on your savings per annum. The more you save, the more money you make.
One bank that offers the best savings products with a highly competitive interest rate is Advans La Fayette Microfinance Bank.

Schedule Your Savings:

For most banks, there are limits to the number of withdrawals you can make from your savings account to earn your interest in full.
To avoid losing money, have a specific amount to withdraw weekly or monthly to maintain the interest on the savings.

Online-Only Savings Accounts Offer the Best Interest Rates
Online-only accounts tend to offer better rates because the financial institution isn't dealing with the exact overhead costs as traditional banks, and these savings are passed on to the customer.

You can open a hi-flex Savings Account on Adspire with the best interest rate in less than 5 minutes and live life to the fullest with amazing benefits.

For more on our saving accounts and the interest rates available for grasp, please click on https://www.advansnigeria.com/personal/savings/

Making your employees happy as a school owner is not your primary objective, but doing so can go a long way in making them remain productive. This will help you accomplish your primary goal which is to improve the lives of children and be profitable.
We have identified eight tested, and trusted strategies school owners can adopt to ensure their teachers feel appreciated.

1. Celebrate growth and achievement
Showing appreciation for dedication and excellence should not only happen at the end of the year; it should be an event that happens more often within the year. Rather than handing out ‘teacher of the year’ awards, celebrate the growth and achievement of teachers over time.

2. Involve them in decision-making.
Involve your employees in making decisions that concern them and the students. When employees can provide their experience and expertise on issues that affect the school, they feel appreciated and like part of a team.

3. Treat your teachers with honesty and respect
Treating employees with respect, showing appreciation for their work and being an encourager will create a desire in employees to treat students and parents well. It will contribute to higher productivity and profitability.

4. Organize outdoor bonding activities
Team bonding activities will improve teamwork among your teachers. This will make employees better understand each other's strengths, weaknesses, and interests. This understanding helps them work together with a collective interest and purpose. Socializing with your school staff lets them see you as a real person, not just an administrator.

5. Help your teachers develop and grow
Professional development is a critical component of a successful business. Helping your team grow and develop professionally helps them build capacity and confidence as well as make them feel supported, appreciated and more productive.

6. Invest in school infrastructure
High-quality infrastructure in schools will facilitate a better understanding of instruction passed from teachers to students, improves student outcomes, reduces dropout rates, and in the end, increase the productivity of the teachers.

Many school owners find it challenging to implement this strategy – Investing in infrastructure. This is because of other more pressing financial obligations of the school.

If you are struggling to boost your teachers productivity due to other pressing financial obligations, kindly visit www.advansnigeria.com/education, call 07000238267 or WhatsApp 08151770000 to get BOOSTED!

Microfinance Banks were established to assist individuals, small and medium scale enterprises (MSMEs) in obtaining credit facilities for personal use or their businesses.

Borrowers of Microfinance loans pay interest on them. The interest rate and the tenure can range from 3%-6% and 1-12 months, respectively, depending on loan size.

What to do before applying for a loan from Microfinance Banks in Nigeria;

Open an account with the bank. Most banks require prospective borrowers to have an account with them which has been active and serviced for at least six months.
For business owners, make sure you have done rigorous research about the business.
The business must exist for at least one year and operate from the exact location for six months.

Documents required when applying for a Loan;

Loan application form
Valid means of identification
Copy of recent utility bill
Recent passport photographs
Evidence of the business location
Bank statements and business records
Collaterals (Not in all cases)

To know more on how to apply for loans, kindly visit www.advansnigeria.com/business/loans

Taxation is an important part of your business compliance requirements. As a result, a thorough grasp of the taxes you must pay and a precise tax plan will be critical to your business success.

There are two types of taxes in Nigeria: Federal and State taxes. Company Income Tax, Value Added Tax, and other Federal taxes are examples. Personal Income Tax, Business Premises Tax, and other state taxes exist.

1) Company Income Tax (CIT)
CIT is a tax imposed on a company’s profit from all sources. The tax rate is 30% of the total profit of a company. Some Profits are exempted from CIT provided they are not derived from a company’s trade or business activities, e.g. Cooperative society.

2) Personal Income Tax (PIT)
Individual Income Tax (also known as personal income tax) is a tax that is levied on a person's wages, salaries, dividends, interest, and other sources of income throughout the year. In most cases, the tax is levied by the State where the income is earned.

3) Value Added Tax (VAT)
VAT (Value Added Tax) is a consumption tax levied on all products and services supplied or imported into Nigeria. Individuals, businesses, and government bodies are all required to pay VAT, which is currently set at 7.5 per cent.

4) Withholding Tax (WHT)
This isn't a tax in the real sense. It is a payment of income tax in advance that is deducted at the time of particular transactions. The withheld tax credit note or receipt can be applied to the final tax liabilities of the income recipient.
The primary goal is to get as many tax evaders into the tax system as possible. WHT charges typically range from 5 to 10%, depending on the type of transaction. The FIRS, or State Inland Revenue Service, is also in charge of collecting this tax.

5) Stamp Duty
Stamp Duty is chargeable according to a scale fixed by the Joint Tax Board. This is tax paid to the federal or state governments on documents such as conveyances on sale, bills of exchange, promissory notes, agreements, contracts, etc.
Stamp duty is levied on written or electronic transaction documents. The tax is governed by the Stamp Duties Act (SDA) of 1939 and charged as a flat rate or percentage of the transaction/instrument value, taking the nature of the instrument into cognisance.

Need funding for your business? Advans La Fayette MFB is one of the prominent Microfinance Banks in Nigeria that provides the best bouquet of financial services for Nigerian MSMEs. Visit www.advansnigeria.com to learn more.

Leading microfinance bank, Advans La Fayette MFB Limited, a member of Advans Group, yesterday, unveiled education loan products to assist school owners and parents to run their schools and pay school fees with ease. The new products are Advans Boost, comprising of Advans School Boost and Advans Eduloan.

In his welcome remarks at the launch and Stakeholders’ Engagement event held at the Shoregate Hotels, Ikeja, Lagos; the Managing Director, Advans La Fayette MFB Limited, Gaëtan Debuchy, said, “We recognized that lack of finance is one of the biggest banes of education. Emboldened by the fact that investment in quality education yields the best dividend, we created these products to offer solutions to the challenge. As a leading microfinance bank, we are focused on providing premium financial services to our customers.”

With Advans School Boost, Parents can access up to N500,000 with the Advans Eduloan, to pay their children’s school fees and school owners can access up to N75 million to cover school expenses.

The loan is easy to access, with a low-interest rate and flexible repayment plans.

Click here for more on Advans La Fayette MFB.

https://www.advansnigeria.com/about-us/news/advans-mfb-to-bridge-education-funding-gap-with-new-offerings/

A registered company is an entity that is founded and registered as a business or corporation with the Corporate Affairs Commission (CAC) in line with Nigerian Corporate and Securities law.

Below are some of the benefits registered businesses will enjoy compared to an unregistered business;

1. Certificate of Incorporation (CAC Certificate):

The Corporate Affairs Commission (CAC) offers you a certificate of incorporation once your registration is complete. The CAC has also implemented the issuing of

e-certificates, as opposed to the previous manual system, which required business owners to walk into the Commission to obtain a certificate of registration and incorporation.

Your registration is seamlessly accepted by the Commission when you complete the registration of any business on the portal, and the certificate is automatically generated in your dashboard for you to download at your leisure.

2. Separate Legal Entity:

A separate legal entity is a person recognized by law. Your incorporated business is deemed by law to be a separate legal entity and is independent of its members or people controlling it.

3. Raising significant capital:

Your ability to attract investors for your business will be easier when your business is registered. Investors are likely to invest in a registered company rather than an unregistered business that has no formal structure in place.

Investors like to invest in places where they are assured of continuity and a registered company tends to offer that.

4. Reputation with customers:

A registered business enhances your brand image credibility and business perception. It gives client’s the confidence to deal with your organization. Most people feel more comfortable paying for services and products into a corporate account with the name of the business rather than paying into an Individual account.

5. Legal Protection:

Once your business is registered or incorporated with the Corporate Affairs Commission, your business name is sealed and cannot be used by any other business in Nigeria.

6. Getting Loans

Obtaining a loan becomes much easier after your company is registered. It instills confidence in your investors or lenders by providing credibility and trust.

Advans La Fayette Microfinance bank is one of the reliable Microfinance Banks in Nigeria established to assist individuals and small and medium scale enterprises (MSMEs) in obtaining credit facilities for personal use or their businesses.

For more on how to apply for a loan from Microfinance Banks in Nigeria, click here

https://www.advansnigeria.com/about-us/news/benefits-of-corporate-affairs-business-name-registration/

Microfinance Banks were established to assist individuals, small and medium scale enterprises (MSMEs) in obtaining credit facilities for personal use or their businesses.

Borrowers of Microfinance loans pay interest on them. The interest rate and the tenure can range from 3%-6% and 1-12 months, respectively, depending on loan size.

What to do before applying for a loan from Microfinance Banks in Nigeria;

• Open an account with the bank. Most banks require prospective borrowers to have an account with them which has been active and serviced for at least six months.

• For business owners, make sure you have done rigorous research about the business.

• The business must exist for at least one year and operate from the exact location for six months.

Documents required when applying for a Loan;

• Loan application form
• Valid means of identification
• Copy of recent utility bill
• Recent passport photographs
• Evidence of the business location
• Bank statements and business records
• Collaterals (Not in all cases)

To know more on how to apply for loans, kindly visit www.advansnigeria.com/business/loans

Excitement at the Advans Nigeria Awards 2021. The bank appreciates all the staff for the dedication and commitment they put into their jobs in 2021 and encouraged them to do better in 2022.

Some members of staff also won individual awards, as well as collective awards.

Former DCEO Advans Nigeria, now CEO of Advans DR. Congo won the legend award at the Advans Nigeria awards 2021.

He was also appreciated for his contribution to the growth of Advans Nigeria in just about 2 year plus....

Advans Nigeria opens another branch in Ilorin, Kwara State in line with the expansion & financial inclusion drive.

On the 13th of January, 2022, MD/CEO Advans La Fayette Microfinance Bank, Gaetan Debuchy officially commissioned Ogidi, Ilorin cashless branch for business.

The location is at №1, Iyana Lawal bus stop, along okolowo road, Ogidi, Ilorin, Kwara State.

Visit us to get first hand information on all our loan and savings products for MSME's and individual respectively.

Visit our website at www.advansnigeria.com.

We are pleased to announce the opening of our new branch in view of the increasing demand of our customers and to deliver prompt and speedy service to all our patrons.

The address is located at №22, Apongbon street, Lagos Island.

Visit us to get first hand information on all our finacial services for MSME’s.

We thank you for your continued support and we look forward to your patronage in the future.

Visit our website at www.advansnigeria.com

L-R: MD/CEO Advans La Fayette Microfinance Bank, Gaetan Debuchy; Chairman, Council of Elders Gbagi, Alhaji Mukaila Adebayo; Director of Operations, Oyo State Fire Service, Engr. Ismael Adeleke; Babaloja in General of Oyo State, Alhaji Yekini Abass Oladapo (Y.K Abass); Member, Council of Elders, Gbagi, Alhaji Abdulrasheed Oladepo (Rashlad); and Chief Amuda Ojetunde during the commissioning of the water facility located within Bola Ige International Market, Ibadan.

Advans La Fayette Microfinance Bank has donated a water facility and power generating set to the Oyo State Fire Service to serve the new Gbagi Zone, an area within Bola Ige International market.

In a statement by the Marketing Communications and Research Officer, Kehinde Fashua, the bank said the donation was part of its Corporate Social Responsibility to support Oyo government’s efforts in combating fire outbreaks in the state.

Managing Director/Chief Executive officer of Advans Nigeria, Mr Gaetan Debuchy, stated: “We are happy to donate this borehole to the fire service. I am certain that the deployment will enhance efficient service delivery and help mitigate loss of life and property within the market community in the event of fire outbreak; more so, as the dry season draws closer.”

Debuchy noted that the bank was not only interested in carrying out its core business of providing tailor-made financial services to individuals, micro-enterprises and small scale businesses, but also investing in and giving back to its host communities.

On his part, the Director of Operations, Oyo Fire Service, Mr. Ismael Adeleke, thanked the bank for the gesture. Lamenting the spate of fire outbreaks in major markets in the state, Adeleke said the facility would enhance firefighting operations in Gbagi and environs.

Stakeholders from the state’s fire service, Gbagi market leaders, members of Gbagi progressives and staff members of Advans La Fayette witnessed the donation.

About Advans Nigeria

Advans Nigeria is a member of the Advans group, which for 15+ years has provided innovative financial solutions to over 1.1 million clients in 9 countries, and offered a complete range of financial services that have helped to build over 5 million small businesses.

As an international microfinance bank with a national license from the CBN, Advans La Fayette Microfinance Bank offers great flexibility, independence and financial security to help clients stay committed to their short and long term financial goals. The bank was incorporated in Nigeria in February 2013.

Advans La Fayette Microfinance Bank, a member of the Advans Group, a multinational microfinance Bank in 10 countries, with 21 branches across Nigeria, has emerged the 2021 Microfinance Bank Brand of the Year at the Businessday Banks and Other Financial Institutions’ (BAFI) Awards.

This was announced by the Businessday Banks and Other Financial Institutions (BAFI) at the 9th edition of its annual awards for deserving financial institutions in Nigeria held in Lagos on Friday.

The BAFI Awards is annual event set up to recognize and celebrate organizations that have achieved excellence in the delivery of their financial services across the entire client/customer spectrum and contributed to the industry’s overall growth.
According to BAFI, the Bank was adjudged winner based on its agile operating model that has served the evolving financial needs of MSMEs in the country, and its revamped branding initiatives over the past eight years, and even more so in the past 2 years, under the leadership of Mr. Gaetan Debuchy.

Receiving the award, the Managing Director/Chief Executive officer, Mr. Gaetan Debuchy commented “We are extremely honored by this award and this is a testament of our commitment to providing innovative client-focused financial services to micro, small and medium enterprises, as well as under- served populations in a sustainable and responsible manner.”

He went further to say “we use this medium to acknowledge the support of our Group office, all Advans staff and loyal clients. This award goes beyond what we have achieved, but also about the trust vested in us, especially with the ongoing global pandemic. We promise to continue to provide simple and efficient financial services to MSMEs in Nigeria”.

Also speaking at the event, the Head of Marketing and Communications, Priscilla Iyari quipped, ‘it is so encouraging to see that the hardwork we have put into further building the brand this past year is being recognized and rewarded by reputable organisations, such as the BusinessDay”.

In addition to this Businessday Bank Brand of the year award, Advans Nigeria has also recently won the Emerging Microfinance Bank of the Year award at the Finnovex West Africa 2021, Marketing Edge Most Outstanding Customer-Centric Bank of the year award, as well as the 2021 Global Brands Magazine Best Customer-Centric MicroFinance Bank in Nigeria award.

The institution continues to be recognised for its commitment to innovation and the provision of a quality and robust microfinance banking service in Nigeria.

About Advans Nigeria
Advans Nigeria is a member of the Advans group, which for 15+ years has provided innovative financial solutions to over 1.1 million clients in 9 countries, and offered a complete range of financial services that have helped to build over 5 million small businesses. As an international microfinance bank with a national license from the CBN, Advans La Fayette Microfinance Bank offers great flexibility, independence and financial security to help clients stay committed to their short and long term financial goals. The bank was incorporated in Nigeria in February 2013.

Contact details:
Priscilla Iyari – +234 807 589 1103, 070 002 382 67
Email – padeboye@advans-lfmfb.com
Website - www.advansnigeria.com

When a business is first launched, the primary goal the business owner wants to achieve is to establish the brand and start growing it. Unfortunately, it takes patience and hard work to achieve this.

There are, however, proven tips to accelerating your business growth.

1) Hire the right people.

Hiring the absolute best people is a surefire way to ensure fast growth in your business. With hardworking employees dedicated to your company's success, your business will be better equipped for continued growth.
Business owners should also note that employee motivation remains very critical to their business growth and should look for ways to improve it at every level. Check https://medium.com/@advans.nig/10-ways-msmes-can-attract-and-retain-the-best-talents-outside-money-dc22a804a00f for some ideas on how to motivate your staff outside of money, as shared by www.advansnigeria.com a few weeks ago.

2) Focus on your customer experience.

Satisfied customers are the best form of advertisement a business can long for. Deliver quality experiences and products, and they'll quickly sing your praises online and offline; mess it up, and they'll tell the world even faster.
As a business owner, you need to diversify your offerings so you can best cater for the customers' changing tastes.

3) Practice corporate social responsibility.

Customers want to buy from businesses passionate about causes that help make the world a better place. look for ways to contribute meaningfully to the causes you support and share that with your consumers.
There are diverse ways to be socially responsible as a business; find a few that will not require you breaking the bank.

4) Research your competitors.

While this might not bring about immediate growth and expansion, researching your competitors is one of the most important things to do after launching your business.
Make a list of who your competitors are, what they're doing wrong that you can improve on and how your business can stand out from theirs.

5) Invest in the business.

A startup's ability to invest in itself accelerate growth. In those early years, it's critical to make sure that you're redirecting revenues back into the company. It's vital to invest early in order to grow quickly.
Determine which parts of your business need more attention, when you find it, give that area your financial support.

Advans La Fayette Micro-Finance Bank is the financial partner for micro, small and medium scale enterprises. We are proud of our mission which enables MSME's to access flexible loan products to grow and expand their business.
Learn more https://www.advansnigeria.com/business/loans/ or call 07000238267

Lagos, Nigeria – As part of activities to mark the World Savings Day 2021, Advans La Fayette Microfinance Bank carried out a sensitization and financial literacy training session for secondary school students of Chancery International School, Ibadan, Oyo State.

The World Savings Day is celebrated annually to call attention to the importance of savings as a way to reduce poverty, promote financial literacy, and educate people about saving and managing their finances. Addressing the students, Managing Director/Chief Executive officer, Mr. Gaetan Debuchy harped on the need for students to imbibe a savings culture early in life, so they grow to become financially responsible adults. “We are happy to have taken up the task to train, guide and empower our young ones with the critical information they need to develop a savings culture and also educate them on the role it plays towards self-development”. He further commented “money saved should be kept in a bank in specialized accounts such as Advans Kiddies, in order to earn interest and reduce the risk of squandering it”.

At the end of the seminar, members of the Advans Nigeria management team fielded from the students.
The Bank also leveraged the occasion to donate audio-visual equipment to the school to facilitate the teaching process of the teachers and the assimilation of the students, while promoting their proficiency in the use of information technology devices.
“Education is one of the key pillars of our Corporate Social Responsibility Framework at Advans Nigeria, as we believe that educated children are the empowered children who will improve the fortune of the economy in future. We have taken this opportunity of the World Savings Day 2021 not just to educate the students about the advantages of saving, but also to meet a pressing need of the school. This gesture is strategically aimed at enhancing the learning process of the students”, said Priscilla Iyari, the Head of Marketing and Communications who also oversees the CSR initiatives of the Bank.

While responding to the Bank, Mrs. Oladimeji, Proprietress of Chancery International School thanked the management of the Bank for the kind gesture in form of the seminar and the gifts. She promised to continue to work with the teachers to ensure quality education is passed on to the students, so that they grow up to become well-rounded adults. “Of course, we will continue to solicit the support of responsive organisations like yours”.

About Advans Nigeria
Advans Nigeria is a member of the Advans group, which for 15+ years has provided innovative financial solutions to over 1.1 million clients in 9 countries, and offered a complete range of financial services that have helped to build over 5 million small businesses. As an international microfinance bank with a national license from the CBN, Advans La Fayette Microfinance Bank offers great flexibility, independence and financial security to help clients stay committed to their short and long term financial goals. The bank was incorporated in Nigeria in February 2013.

Contact details:
Priscilla Iyari – +234 807 589 1103, 070 002 382 67
Email – padeboye@advans-lfmfb.com
Website - www.advansnigeria.com