Authors :
TOKUNBO AMELIA MELAYE; SALEH MUSA SA’AD
Volume/Issue :
Volume 7 - 2022, Issue 10 - October
Google Scholar :
https://bit.ly/3IIfn9N
Scribd :
https://bit.ly/3EoZBBH
DOI :
https://doi.org/10.5281/zenodo.7313831
Abstract :
The importance of SMEs in terms of job
creation and value addition has drawn the attention of
scholars and policymakers, but their growth has been
slow in Nigeria. Some empirical researches imply that a
lack of funds may be one of the causes of these issues.
Thus, the study examines the influence of Microfinance
Banks on SME development (SMEs). We used
descriptive statistics to evaluate the data and basic linear
regression to test the hypothesis in SPSS. The study
indicated that MFB loans help SMEs grow. A descriptive
statistical investigation revealed that MFB interest rates,
eligibility conditions, and payback terms can help SMEs
grow. The study finally recommended, MFBs should
extend their clients' loans for longer periods and spread
the payback out over a longer length of time.
Keywords :
Microfinance Banks, Small and Medium Enterprises, funding, SMEs development.
The importance of SMEs in terms of job
creation and value addition has drawn the attention of
scholars and policymakers, but their growth has been
slow in Nigeria. Some empirical researches imply that a
lack of funds may be one of the causes of these issues.
Thus, the study examines the influence of Microfinance
Banks on SME development (SMEs). We used
descriptive statistics to evaluate the data and basic linear
regression to test the hypothesis in SPSS. The study
indicated that MFB loans help SMEs grow. A descriptive
statistical investigation revealed that MFB interest rates,
eligibility conditions, and payback terms can help SMEs
grow. The study finally recommended, MFBs should
extend their clients' loans for longer periods and spread
the payback out over a longer length of time.
Keywords :
Microfinance Banks, Small and Medium Enterprises, funding, SMEs development.
