Make a Financial Plan… Being enthusiastic about your idea is fantastic, but you need to put together a business plan and illustrate your strategy to make it work. It’s surprising how many new entrepreneurs fail to do this. And this is one of the essential steps since most lenders won’t approve a loan if you just have a business idea without developing an actual plan.
Ecobank Nigeria is one of the biggest personal loan lenders that has unveiled a new product offering, Xpress Save and Xpress Loan, enabling customers to conveniently & speedily open digital savings accounts and also obtain usda loans and short-term micro credit loans using their mobile phones through a USSD platform, *326#. Ecobank Xpress Save and Xpress Loan, the first of its kind in the Nigeria market, is an online real-time, self-service solution which is suitable for all micro entrepreneurs, artisans, traders, low income earners and the entire unbanked and underbanked mass market population. The Xpress Save and Xpress Loan product is simple to access digitally through the mobile phone and it is available 24 hours every day of the week. A lot people are currently facing challenges one way or the other as a result of not holding cash at hand. And if the issue of not having money to solve the immediate issue currently happening, it might lead to more critical problems. Here is the car title loans guide basics.
Unveiling the product in Lagos, the Managing Director, Ecobank Nigeria, Patrick Akinwuntan said this innovative product is part of the bank’s overall strategy to drive financial inclusion and make full banking truly accessible to all in Nigeria. According to him, Xpress Save and Xpress Loan is a digital product designed to stimulate micro savings in the economy and at the same time expand access for eligible customers to obtain short term micro credit loans to bridge cashflow gaps thus contributing to the national efforts to deepen financial inclusion.
“We announced our plans to take banking to every neighborhood in Nigeria no matter how far, through our agency banking – the Ecobank Xpress Point. This. we have done and will continue to do until every household in Nigeria feels our presence. Through Xpress Save and Xpress Loan, we will empower these target households with the ability to save easily for the rainy day and also give them access to small loans to enable them to fund their businesses with more ease. All these are in line with the Ecobank Group mandate which is to contribute to the economic development and financial integration of the African continent”. Mr Akinwuntan stated.
Also speaking, the Head, Personal Banking, Ecobank Nigeria, Ayodele Osolake who gave further details about the product noted that “Xpress Save allows mobile phone users to save money in their digital savings accounts (Ecobank Xpress Save account) which is opened simply and instantly through USSD code – *326#. On the other hand, Xpress Loan allows customers who have Ecobank Xpress Save account access short term micro loans instantly to meet their immediate needs”
She stated that “to be eligible for the loan the customer needs to simply open Xpress Save account, meet Tier 1 KYC requirements and our simple credit score. The Ecobank Xpress Save and Xpress Loan product requires no paper work and no fees are charged for onboarding. The product has best in class security features, ensuring that customers’ transactions are fully protected.
SOURCE :The Nigerian Voice (business)