SME (small business) requirements range from start up funds to capital investment and working capital to grow the business. Equipment leasing opportunities, export finance and LPO Financing are other types of access to finance sought by some.

1. HOW TO ACCESS TO FINANCE TO GROW
YOUR BUSINESS
By
Fayo Williams (Mrs.)
ILO Certified SIYB Master Trainer
and
EXECUTIVE DIRECTOR, RELY SUPPLY LTD.
08034030366 fayowilliams@yahoo.co.uk
with materials courtesy
How to Access Finance by Fayo Williams
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2. Outline
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 What does ACCESS TO FINANCE mean?
 Criteria for Business Growth
 Current situation with regards to accessing funds
 Before Borrowing
 How to access finance to grow your business
 My experience
 Summary and conclusion
How to Access Finance by Fayo Williams

3. What is ACCESS TO FINANCE?
3
 Access to finance refers to the possibility that
individuals or enterprises can access financial
services, including credit, deposits, payment,
insurance, and other risk management services.
(http://en.wikipedia.org/wiki/Access_to_finance)
How to Access Finance by Fayo Williams

4. What are the criteria for Business
Growth?
1.
2.
3.
4.
5.
6.
7.
8.
Increase in Sales?
Increase in Profitability?
Increase in Assets?
Increase in visibility?
Establishment of structure?
More branches? More staff?
Increase in production capacity/service excellence?
Increased capacity for R & D/ New product
development?
How to Access Finance by Fayo Williams
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5. •Access to affordable finance is a general problem facing MSMEs globally;
•Problem is more pronounced with small business owners in Nigeria (42.1%
Micro, 13.57% - Small & Medium owned by Women. 2010 National MSME
Collaborative Survey - NMCS )
•84.6% MSME owners start-up capital is from personal savings (2010 NMCS);
•9.2% accessed loans (2010 NMCS)
•About 42% of women indicated finance as a major growth constraint
(Enterprise Baseline Survey 2012 - EBS)
•Collateral is the biggest constraint to accessing loans (EBS 2012)
How to Access Finance by Fayo Williams
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6. 6
 Have you tried the three major ways of increasing
revenue?
 Have you thought of diversifying eg. by offering a
service alongside your product?
 VVIP – Have you blocked avenues of leakage e.g
petty cash?
Ensure you have sound plans on how to repay
the facility!!!
How to Access Finance by Fayo Williams

7. Have you
leveraged on
technology?
Contact :
g-businessng@google.com
How to Access Finance by Fayo Williams
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8.  Financing is the use and manipulation of money.
 Raising money is one aspect of financing.
 If you don’t have enough money to fund your business,
another option is the use of other people’s money (OPM).
 There are two ways to raise OPM. Each affects a business
differently.
 Debt:
The business borrows money and pays
it back over a set period of time at a set rate of interest.

Equity: The business gives up a percentage of ownership
for money.
How to Access Finance by Fayo Williams
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9. •
Scalable business (business with opportunities for growth)
•
Novel (new) or not run-off the-mill business (new and/or unique businesses)
•
Opportunity for financial return
•
Good management, focus
•
Realistic business concept and plan
•
Technical superiority
•
Low risk
•
Control
How to Access Finance by Fayo Williams
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10. Where is the money to grow our
businesses?
•
•
•
•
•
•
Governmental Financial Institutions and Development Funds
Govt – sponsored Funds for Women
Other Commercial Banks
Microfinance Banks
Venture Capitalists/ Financiers
Partners and Customers
•
Equipment leasing
•
Grants-public eg. YouWIN! and private (social/non-profit)
** Non – cash Support
How to Access Finance by Fayo Williams
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11. CBN to inaugurate N200bn MSME fund Thursday
http://www.punchng.com/business/money/cbn-toinaugurate-n200bn-msme-fund-thursday/
August 13, 2013 by Ifeanyi Onuba Abuja
How to Access Finance by Fayo Williams
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12. • Agricultural Credit Guarantee Scheme Fund (ACGSF)
• N200 Billion Commercial Agriculture Credit Scheme
(CACS)
• N200 Billion Small and Medium Enterprises Credit
Guarantee Scheme (SMECGS)
• N200 Billion Restructuring and Refinancing Facility
(RRF)
• Nigeria Incentive-based Risk Sharing System for
Agricultural Lending (NIRSAL)
www.cenbank.org/devfin/
How to Access Finance by Fayo Williams
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13. • Have a clear business plan
• Provide up-to-date records on the business
operation
• Have no non-performing or delinquent loans with
any financial institution
• Be a member of the Organized Private Sector
Bodies/Associations such as LCCI, the
Manufacturers Association of Nigeria (MAN), State
Chapters of NASME, NASSI etc.
How to Access Finance by Fayo Williams
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14. To access the
guidelines, paste the
name of the scheme
into your browser
window eg. Agricultural
Credit Guarantee
Scheme Fund
How to Access Finance by Fayo Williams
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15. • Rural Women Enterprise Development Programme (RUWEDEP)
• Cluster Development Program (Lagos, Calabar, Agbaku-Eji, Aba,
Abakaliki, Alo-Borno, Kaduna, Osun, etc)
• General Entrepreneurship Development Programme (GEDP)
• Women Entrepreneurship Development Programme (WEDP)
• Implementation of the National Policy on MSMEs
• Specialized Entrepreneurship Training Programmes
• National MSMEs On-line registration
• Small business opportunities fairs
www.smedan.gov.ng
How to Access Finance by Fayo Williams
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16. SMEDAN CONTACTS IN STATES
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 SMEDAN, Lagos Zonal Office
107, Ogunlana drive, Surulere, Lagos
 Contact person: (Gbenga 080 3670 6209),

How to Access Finance by Fayo Williams

17. Grants:
https://www.youwin.org.ng/
How to Access Finance by Fayo Williams
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18. A YouWIN! Winner
Mrs. Susan Uko - Abasi
How to Access Finance by Fayo Williams
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19. My experience with accessing
finance to grow my business
How to Access Finance by Fayo Williams
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20. Further Resources:
Access to Finance Headaches of SMEs: Imagined or Real?
Article on www. http://nigeria.smetoolkit.org/
You can also visit my Blog: www.awesomebiztips.com
How to Access Finance by Fayo Williams
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21. Summary and Conclusion
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 Funds are available, from overdrafts to vehicles
leases, non – collateralized loans and advances.
However, SMEs deserve a better deal in terms of the
interest rates, delay or lack of specificity in date of
release and steep requirements.
 When this is achieved, our nation will witness the
much desired economic leap
How to Access Finance by Fayo Williams

22. ‘Fayo Williams
08034030366 (sms preferred)
How to Access Finance by Fayo Williams
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