Finance corporation

Africa Finance Corporation unveils $2 billion credit facility for banks

By Modupe Gbadeyanka

A leading microfinance bank that supports small businesses, Advans La Fayette Microfinance Bank Limited, has introduced education loans aimed at providing financial support to school owners and parents.

A statement from the small lending institution says the student loan products created for its customers are Advans School Boost, Advans Eduloan and Advans Kiddies.

It was explained that the Advans School Boost is a product designed to provide working and investment capital to school owners, Advans Eduloan is to help parents easily pay for their children’s school fees, while that the Advans Kiddies is a high yield savings account to help parents save for their children’s future while earning interest.

According to Advans La Fayette MFB’s Marketing and Communications Manager, Mr. Kayode Abraham, “the process of accessing student loans is neither rigorous nor intimidating”.

“You just need to visit our website: to complete the application form and receive the funds immediately, if you are eligible,” he advised.

Advans La Fayette MFB Project Manager, Ms Fanny Belhomme, said, “Advans School Boost enables school owners to access loans of up to N75 million to cover school expenses. The loan has a very competitive interest rate, a flexible repayment plan and no hidden fees.

“Parents can access up to N500,000 with Advans Eduloan, to pay for their children’s school fees. The loan is easy to access, with a low interest rate and flexible repayment plans,” she added.

The managing director of the lender, Mr Gaëtan Debuchy, during the unveiling of the products at Shoregate Hotels, Ikeja, Lagos, revealed that the company offered the loans because “we recognized that lack of finance is one of the the greatest scourges of education.

“Embolished that investing in quality education pays the best dividend, we created these products to offer solutions to the challenge. As a leading microfinance bank, we are focused on providing premium financial services to our clients,” he added.

Advans Nigeria is a member of the Advans Group; a leading international microfinance group currently serving over 1.1 million clients in 10 countries including Cambodia, Cameroon, Ghana, Democratic Republic of Congo, Ivory Coast, Pakistan, Nigeria , Tunisia and Myanmar.

For more than 15 years, the bank has offered a full range of financial services that has helped create more than 4 million small businesses.