Ascensia targets MSME financing
Ascensia Finance Company, licensed by the Central Bank of Nigeria (CBN) to provide financial intermediation services has commenced operations in Abuja, with a target to support individuals and small businesses through customized financial solutions delivered via efficient and accessible channels. A statement by the Organization yesterday said, “The firm is anchored on the core values […]
Ascensia Finance Company, licensed by the Central Bank of Nigeria (CBN) to provide financial intermediation services has commenced operations in Abuja, with a target to support individuals and small businesses through customized financial solutions delivered via efficient and accessible channels.
A statement by the Organization yesterday said, “The firm is anchored on the core values of Trust, Resilience, Integrity, Creativity, and Empathy (TRICE), Ascensia has introduced a suite of innovative financial products. These include personal loans of up to N5 million for self-employed professionals, with a repayment tenor of up to 12 months.
“The company also provides SME loans of up to N10 million, specifically designed to support shop owners and small business operators engaged in the trade of fast-moving consumer goods, with financing available for inventory and working capital needs.
Ascensia PayEasy, a “Buy Now, Pay Later” solution, enables individuals and companies to acquire consumer goods or assets with a minimum 30% deposit, and repay the balance over a six-month period. For salaried employees in both the public and private sectors, Ascensia offers PayDay Loans of up to N5 million, repayable over 12 months.
“Through its Contract Finance offering, Ascensia supports vendors, suppliers, and contractors working with credible companies, NGOs, and public-sector agencies. This product facilitates timely order fulfilment and improves liquidity by providing early access to funds through invoice discounting on confirmed invoices from approved counterparties,” it explained.
It said, “In addition to its lending portfolio, Ascensia has launched two key investment products. Ascensia Rise is designed for individuals and businesses seeking flexible access to their funds while earning returns that help hedge against inflation.”