The Impact Of Bank Loans On Small And Medium Scale Enteprises In Nigeria (A Case Study Of Customers In United Bank For Africa)
Abstract
Small and Medium enterprises are the catalyst for profitable growth in utmost husbandry therefore, the abecedarian ideal of this study is to probe the impact of loans on Small and Medium Enterprises( SMEs) in Nigeria. So that the capability of SMEs to develop appreciatively and drive profitable growth in the Nigeria will come real. Simple arbitrary slice fashion was employed in opting the 100 SMEs that constituted the sample size of the exploration. Structured questionnaire was designed to grease the accession of applicable data which was used for analysis.
Descriptive statistics which involves simple chance graphical maps and illustrations was tactically applied in data donations and analysis. The findings of the study reveal that significant number of the SMEs served from the loans indeed though only many of them were able enough to secure the needed quantum demanded. Interestingly, maturity of the SMEs admit positive benefactions of loans towards adding their returns and deals therefore placing them in the competitive arena. It’s recommended that Banks should review their interest rate down and also partake stylish practices with their SME guests especially on the effective use of loans; this will boost their productivity and support SMEs in Nigeria.
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