{"id":10114,"date":"2026-09-10T07:28:32","date_gmt":"2026-09-10T07:28:32","guid":{"rendered":"https:\/\/ograsset.com\/?p=10114"},"modified":"2026-09-10T07:28:33","modified_gmt":"2026-09-10T07:28:33","slug":"firm-offers-smes-n100m-loan-targets-growth","status":"publish","type":"post","link":"https:\/\/ograsset.com\/index.php\/2026\/09\/10\/firm-offers-smes-n100m-loan-targets-growth\/","title":{"rendered":"Firm offers SMEs N100m loan, targets growth"},"content":{"rendered":"\n
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Fast-growing Nigerian financial technology platform, FinStore, has announced that small and medium-sized enterprises using its platform can now access loans of up to N100m to drive business expansion across the country.<\/p>\n\n\n\n

The Co-founder of FinStore, Ayomide Olupitan, disclosed this during an interaction with journalists on Monday, noting that the firm was established to empower micro, small, and medium enterprises and enhance their market value.<\/p>\n\n\n\n

Speaking on the initiative, Olupitan said, \u201cOur customers are being empowered. We give businesses up to N1m every month. Aside from that, our customers also have access to loans of up to N100m. The bigger your business, the bigger your opportunity to access credit.\u201d<\/p>\n\n\n\n

He highlighted the critical role of MSMEs in economic development, adding that FinStore remains focused on delivering simple, accessible digital tools to spur enterprise growth.<\/p>\n\n\n\n

\u201cOne of the main reasons we started FinStore was specifically to empower businesses. SMEs account for about 50 per cent of Nigeria\u2019s Gross Domestic Product, a trend similar across global economies. We are looking to increase the value of our customers\u2019 operations,\u201d he added.<\/p>\n\n\n\n

Olupitan noted that a key feature distinguishing FinStore from competitors is that the platform is zero-cost and tailored specifically for the African market.<\/p>\n\n\n\n

According to him, business owners can set up online storefronts at no cost, while an automated management system handles inventory, payment processing, and general operations.<\/p>\n\n\n\n

\u201cOur platform is free and built for the African market with simplicity in mind. We allow businesses to create online stores at no cost, while our automated, seamless system helps them take stock and manage inventory,\u201d he explained.<\/p>\n\n\n\n

He revealed that some merchants on the platform process transactions as high as N80m, adding that business size determines the scale of credit and opportunities available to users.<\/p>\n\n\n\n

\u201cWe have merchants who have recorded up to N80m in transactions, and they are benefiting immensely from the platform. The goal is for an average Nigerian intending to run a business to pick up a mobile device and start generating revenue,\u201d Olupitan said.<\/p>\n\n\n\n

He further explained that the platform\u2019s automation aims to relieve operational stress for entrepreneurs by managing backend processes, including collections.<\/p>\n\n\n\n

\u201cOur platform is user-friendly to the point that merchants can open their digital storefronts and rest while our automated system handles essential operations, including payment collection,\u201d he noted.<\/p>\n\n\n\n

On expansion plans, Olupitan disclosed that the fintech firm intends to scale across Africa to facilitate multi-currency cross-border trade.<\/p>\n\n\n\n

\u201cOur goal is to expand beyond Nigeria and power African businesses through seamless operations that support transactions across various currencies within the continent,\u201d he added.<\/p>\n\n\n\n

Also speaking, another Co-founder, Samuel Ojerinde, urged the Federal Government to maintain policies that foster small business growth, while commending ongoing initiatives to facilitate free business registration for local entrepreneurs.<\/p>\n\n\n\n

Meanwhile, FinStore rewarded four of its top merchants with over N1m in August for recording high transaction volumes and platform usage.<\/p>\n\n\n\n

Expressing gratitude for the gesture, one of the beneficiaries and owner of Doublegold Enterprises, Mabel David Hope, stated that the grant was unexpected and would be reinvested to position her firm for future opportunities.<\/p>\n\n\n\n

\u201cIt was a pleasure receiving the grant. FinStore offers a seamless experience, and I recommend it to anyone looking to achieve rapid and sustainable business growth,\u201d Hope said.<\/p>\n\n\n\n

Another beneficiary and owner of Beautysuppliesng, Ruth Effiom Stephanie, described the reward as a pleasant surprise, praising the platform\u2019s efficiency.<\/p>\n\n\n\n

Other merchants rewarded during the event include Temitope Abosede Adejoro of King Elrad Collections and Blessing Damilola Olakojo of DXCA Fashion Store.<\/p>\n\n\n\n

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Firm offers SMEs N100m loan, targets growth<\/a><\/blockquote>