#COVID-19 Pandemic: GTB Supports SMEs With 90 Days Moratorium Loan Repayment Plan

Guaranty Trust Bank is supporting Small and Medium Enterprises (SMEs) in the country with 90-days moratorium on repayment of loans.

GTB social card Source: gtbank.com

That means - the bank has given SMEs the legal authorization to postpone payment of loan and credit facilities gotten from the financial institution.

GTB says the decision was made to reduce the effect of Coronavirus COVID-19 pandemic on small business owners as lockdown bites harder on the economy.

According to a press statement,

“As a result of the COVID-19 pandemic, and because small businesses have had to stay closed to stay safe, we’re giving a 90-day moratorium on repayment of the following loans.”

The bank explained that the exempted businesses are those in the food industry, fashion industry, and quick credit for businesses.