Business, Management and Accounting
5 years ago

Deposit Money Banks' Loans Vital for SMEs Growth in Nigeria's Economy

Academic Journal of Interdisciplinary Studies
The Role of Deposit Money Banks’ Loan Facilities in Financing Small and Medium-Scale Enterprises in Nigeria
Foluso Olugbenga Aribaba, Abdul-Lateef Olamide Ahmodu, Oladele Rotimi, Adesina Saliu Yusuff, Banji Rildwan Olaleye

Paper Summary

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The study looked at how banks in Nigeria provide loans to small and medium businesses. They used data from 2008 to 2017 to see how these loans affected the businesses. The results showed that when banks give more money to these businesses, they tend to grow. However, when the banks focus more on their own profits, it can hurt the businesses. The recent economic problems in Nigeria have also made it harder for these businesses to succeed. To help the economy, regulators should make sure banks are giving enough loans to small and medium businesses.