GCB offers MSMEs unsecured loans up to GH¢1m
GCB Bank PLC has announced plans to deepen financial and technical support for micro, small and medium-sized enterprises (MSMEs), including unsecured loans of up one million Ghana cedis for eligible businesses to expand their operations. The initiative forms part of the bank’s nationwide MSME Caravan Business Clinic, which seeks to address financing, management and operational … The post GCB…
GCB Bank PLC has announced plans to offer unsecured loans of up to 1 million Ghana cedis to micro, small and medium-sized enterprises (MSMEs) as part of its nationwide MSME Caravan Business Clinic. The initiative aims to provide financial and technical support to small businesses, addressing their financing, management and operational challenges.
At a Kumasi event, GCB's Head of SME, Mr Gabriel Owusu Siaw, explained that the bank would assess applicants based on their account activities and transactions with GCB, without requiring collateral or formal financial statements. Dr Boatema Ntim, a consultant, urged business owners to establish systems for long-term survival and adopt proper pricing systems to avoid cash-flow difficulties.
GCB Bank officials emphasized the importance of MSMEs in Ghana's economy, accounting for 90% of local enterprises, employing 80% of the workforce, and generating nearly 70% of the country's GDP.
Written by urgent.news from Ghanaian Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
