A Microfinance bank is a bank that provides loans to individual, entrepreneurs and customers to start up small businesses. Unlike commercial banks, a microfinance bank is quicker in providing loans to petty traders and small businesses to start up small and medium enterprises. There are many microfinance banks in Nigeria that provides microfinance services to people. A good example of such bank is Accion Microfinance bank. In this article, you will know the history of Accion microfinance bank, the location of its offices, the type of services which it offers, the history and overall view of the microfinance bank.
About Accion Microfinance Bank
Accion Microfinance bank is one of the best microfinance banks in Nigeria. It was established and registered as a business entity with the Corporate Affairs Commission (C.A.C) in the year 2006. By May 2007, Accion Microfinance Bank received an official license from the Central Bank of Nigeria (CBN) to commence its business operations.
Accion Microfinance Bank has a mission to empower small and micro-entrepreneurs financially and economically by providing them with tools and services that will sustain and profit them in their line of business. Accion International aims to be an authority figure by working world class standards in the microfinance sector. They have a management team which comprises of distinguished and season individuals from different roots and backgrounds who are professionals. Their expertise and service has been observed and complemented by her partners.
The core values of the company is to be committed in maintaining the integrity of the company which is all about employing mutual respect, fairness and a high degree of responsibility in their service.
Services and Products
1)Provision of Loans
Just like any microfinance bank, accion micro-finance bank provides loans for her customers. Loans acquired from Accion Microfinance bank comes in different categories and packages.
- Accion provides loans for the construction of clinics, homes, schools and building projects.
- They have a package that provides loans for pensioners and retired persons to start up a business for themselves after retirement.
- Through a product known as My Brighta Solar, accion provides a solar power for small and medium business owners.
- They provide loans for schools and people who are in the education sector of the economy.
- Accion microfinance banks provides loans for deformed people or persons living with a disability (blind people, lame people etc). They give loans which come with a low interest rate to deformed persons.
2) Corporate Responsibility
Asides from the provision of loans, Accion microfinance bank supports and empowers communities by teaching them on how to create wealth. The driving force behind this move is to affect and touch the lives of the less-privileged people and communities and bring a stable growth and development so as to improve their standard of living. One of the ways by which they contribute positively to communities is by supporting Non-Governmental Organizations (NGOs), providing financial empowerment, skill acquisition programs and equipping people with literacy and educational knowledge. Through this initiative, they have helped students from different schools and raised job owners in diverse communities.
Accion Microfinance bank has branches in Nigeria. Their headquarters is located at 4th Floor, Elizade Plaza, 322 Ikorodu Road, Anthony, Lagos. You can also reach out to them on their website www.accionmfb.com, mail at [email protected] or call +234 1 2951010, 01-2911056