Modupe Gbadeyanka
An account that enables micro businesses with turnover between N50,000 – N1 million operate their businesses with their individual name or registered business name has been introduced by Access Bank.
The new banking product called TraderLite was launched by Access Bank, a leading retail lender in the bid to stimulate the growth of the economy.
According to the Executive Director in charge of Retail Banking at Access Bank, Mr Victor Etuokwu, the bank designed the new product to help business owners grow because they are viewed as partners, not only as customers.
“The future of Nigeria’s economy is Small and Medium-Scale Enterprises because they can provide more than enough jobs to the unemployed if empowered.
“And that is why the bank’s passion is to offer more than financial services to its customers and also work with them in growing and expanding their businesses. Whichever category you fall into; we are here to work with you to take your business to a whole new level,” Mr Etuokwu said.
TraderLite, a variant of the Diamond Business Advantage account within the bank’s emerging businesses portfolio, is specially designed for micro businesses with the aim of providing financial inclusion for businesses in that segment while equipping them with the required skills to grow their businesses.
The product has two variants namely: DBA TraderLite Individual, which is for individuals with unregistered businesses and DBA TraderLite Business, for registered businesses.
The Diamond Business Advantage proposition from Access bank has been designed to add value to Micro, Small and Medium scale business owners so that they can grow their businesses with smart banking.
The proposition provides SME’s market linkages, increased referral base and networks that enable them scale the hurdles of accessing new markets for their products.
Networking sessions such as Business Clubs, Business clinics, and Business seminars enable MSME customers expand their referral base through interacting with other MSMEs.
Access Bank is the leading retail financial institution in Nigeria with over 600 branches and more than 40 million customers. The bank offers products and services tailored to suit the lifestyle of every Nigerian irrespective of age and demographic.
