Photo caption: Small and medium-sized enterprises (SMEs)
Auto Bucks Lenders Limited, a financial services institution focused on supporting small and medium enterprises, has announced plans to disburse N65 bn in loans to SMEs as part of its expansion into Abuja.
In a statement made available to our correspondent by the company on Wednesday, it stated that the move marks the company’s focus on financing renewable energy projects for SMEs in the nation’s capital.
The Acting Chief Executive Officer of Auto Bucks Lenders Limited, Adetoun Olasunkanmi, said the company recognises the critical role of affordable and sustainable energy in enhancing business productivity.
“Abuja presents a unique opportunity due to its vast landmass and solar potential, combined with high electricity costs that hinder SME growth,” Olasunkanmi said. “By prioritising renewable energy financing, we aim to reduce operational costs and empower SMEs to thrive.”
Auto Bucks Lenders currently operates in Lagos, Ibadan, and Ogun states, where it has disbursed over N65 bn in loans. The firm offers tailored credit solutions to a wide range of sectors, including agribusiness, hospitality, education, pharmaceuticals, manufacturing, and beauty and wellness.
In addition, Auto Bucks plans to collaborate with Green Bucks Limited, its newly launched subsidiary providing Energy-as-a-Service solutions. This partnership will facilitate access to complete solar energy systems and ongoing energy management for SMEs, supported by flexible financing from Auto Bucks.
Olasunkanmi also highlighted the firm’s strong track record in Ibadan, where the branch achieved a zero per cent portfolio at risk in its first year. She expressed confidence that similar success will follow in Abuja and future locations.
“We are committed to maintaining strict credit and risk management to ensure strong loan performance across our network,” she said.
The PUNCH reported that Auto Bucks Lenders, a subsidiary of Alert Group, disbursed overN1.5bn in loans to small and medium-sized enterprises within the past nine months through its Ibadan branch.
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