Fidelity Bank Offers SMEs Financing at 10–16% Interest Rates
Fidelity Bank Plc has reaffirmed its commitment to supporting the growth of Small and Medium-sized Enterprises (SMEs) in Nigeria through access to affordable financing, business advisory services and capacity-building initiatives, with eligible businesses able to access intervention funds at interest rates ranging from 10 to 16 per cent.
The bank disclosed this at the Abuja edition of its quarterly SME Business Forum, themed, *“Built to Compete: Positioning Abuja Businesses for Sustainable Growth”*, which brought together entrepreneurs, industry stakeholders and regulatory representatives to examine challenges affecting business competitiveness and sustainable growth.
Speaking at the forum, Executive Director, North Directorate, Fidelity Bank, Sufiyanu Garba, said the bank remained committed to providing entrepreneurs with the financing, knowledge, business connections and solutions required to strengthen their operations and expand their businesses.
He, however, urged business owners to embrace financial discipline, improve their organisational structures and leverage technology to enhance efficiency and competitiveness.
Garba noted that strong sales figures did not necessarily translate into profitability or financial stability, stressing that effective cash flow management, proper record-keeping and cost control were essential to building sustainable businesses.
“A business may record strong sales and still struggle with cash flow. Sustainable growth requires business owners to understand what drives profitability, manage costs and working capital effectively, keep reliable records and use technology to make better decisions.
“These are the disciplines that position businesses to access finance, pursue larger opportunities and compete successfully,” he said.
He explained that Fidelity Bank offered a range of financing solutions designed to address the different operational and investment needs of SMEs.
According to him, the facilities include working capital financing, overdrafts, term lending, asset and equipment financing, trade finance and structured lending, with products tailored to the funding requirements and operating cycles of individual businesses.
The executive director further disclosed that the bank was collaborating with on-lending institutions to make intervention funds available to eligible businesses at interest rates between 10 and 16 per cent, depending on the applicable funding scheme.
“Access to affordable finance remains critical to SME growth. At Fidelity Bank, we are working with intervention funding partners to provide eligible businesses with financing at significantly reduced interest rates.
“Our goal is to ensure that promising businesses have the financial support they need to grow sustainably,” Garba said.
He added that the initiative was particularly designed to ease financing challenges confronting women-owned businesses, youth-led enterprises and businesses operating in environmentally sustainable, or green, sectors.
Beyond financing, the forum provided an opportunity for entrepreneurs to engage directly with regulatory stakeholders on issues relating to taxation, customs procedures, importation, exportation and other regulatory requirements affecting business operations.
Secretary of the Iron Dealers Association, Mararaba, Okwuchukwu Okolo, commended Fidelity Bank for organising the forum, describing it as a valuable platform for entrepreneurs to obtain clarification on regulatory issues and engage relevant government agencies.
He said the discussions provided useful insights into multiple taxation and customs procedures, adding that direct interaction with regulatory representatives would help business owners better understand their obligations and navigate operational challenges.
Similarly, Chief Executive Officer of Febesth Global Resources Limited, Abuja, Folake Olufemi, praised the bank for creating opportunities for knowledge-sharing, networking and engagement with relevant stakeholders.
Olufemi said she gained useful insights into importation procedures and the appropriate channels for resolving complaints relating to customs operations.
She added that the opportunity to interact directly with the bank and other entrepreneurs provided valuable perspectives on addressing challenges affecting business growth.
The Abuja engagement is part of Fidelity Bank’s quarterly SME Business Forum, which has also held editions in Lagos, Kano and Port Harcourt.
The initiative forms part of the bank’s broader strategy to strengthen the SME sector by improving access to finance, providing business knowledge, facilitating market access and creating strategic connections that enable entrepreneurs to build resilient and competitive enterprises.
Fidelity Bank, a full-fledged commercial deposit money bank, serves more than 10 million customers through its digital banking channels and 255 business offices across Nigeria, as well as its United Kingdom subsidiary, FidBank UK Limited.
The bank has received several local and international recognitions, including the 2025 Development Bank of Nigeria Innovation Award for MSME support and the Best Retail and SME Bank Award from Independent Newspapers.
Other recognitions include Best Bank for Export and Trade Finance and Most Innovative Bank of the Year at the 2025 BusinessDay Banks and Financial Institutions Awards, Nigeria’s Best Private Bank at the 2025 Euromoney Awards, and SME Bank of the Year by NewsDirect.
