High interest rates gagging SMEs’ formative years-Nestoil GMD

The Group Managing Director of Nestoil Group, Ernest Azudialu-Obiejesi, has faulted punitive interest rates and excessive collateral demands for the collapse of many Small and Medium Enterprises in their formative years. Indeed, many SMEs lack the collateral required by banks, making it difficult to secure loans, and are also challenged by exorbitant interest rates deterring

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