Heritage Bank Limited has announced the launch of a new SME Finance Package called the Paris Klub SME (PKS) Scheme. The new scheme was designed, according to the bank, to support lending without core collaterals.

While speaking on the rising tide of the challenging economy and the plight of an estimated 17 million Nigerian SMEs out of which only about 10 per cent have access to finance, Managing Director of Heritage Bank, Mr. Ifie Sekibo was quoted in a statement to have said there was no better time to support the SMEs than now when the survival of the economy depends largely on retail businesses. He noted that to improve the dwindling fortune of the economy, a robust SME business environment has to be developed.