Bank empowers female entrepreneurs with funding to run businesses
POLARIS Bank has equipped women entrepreneurs with adequate funding to run their business. The entrepreneurs were empowered through the Polaris Pearl account with requisite knowledge, skills and support to run their businesses profitably.
The Bank’s Group Head, Products and Market Development, Mrs. Adebimpe Ihekuna, said the bank in a survey discovered that most of them were unable to access finance to either stabilise or scale their businesses due to lack of awareness on how to leverage bank funding to drive and sustain profit. She noted that lack of proper guidance on access to opportunities was also a major hindrance to women in their entrepreneurial ventures.
The findings, she said, made the bank to design Polaris Pearl Account for women, and a group of women entrepreneurs who initiate, organise, and operate a business enterprise to fulfil an existing need for the purpose of making profit.
With Polaris Pearl, she said: “Women entrepreneurs do not only have access to collateral-free loans but are also regularly supported in understanding vital aspects of business development like business training, business tips and positioning for new opportunities. We also support them with requisite skills on emerging local and global trends that may impact their businesses.”
Speaking on the value proposition of Polaris Pearl, the Bank’s Acting Managing Director/CEO, Innocent Ike, explained: “Polaris Bank is a member of the United Nations Environment Programme Finance Initiative (UNEP FI), and hence a critical stakeholder in the global conversation about gender inclusion and women empowerment especially in enhancing their access to finance and business opportunities.”
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