Lovonus Microfinance Bank woos small businesses

By Laz IBEABUCHI
LAGOS– Lovonus Microfinance Bank Ltd., has promised exceptional banking experience to small businesses in Nigeria through an array of products and services carefully tailored to help them grow into medium and large scale
The chief executive of the bank, Usman Onoja, said Lovonus Microfinance was established primarily to revitalize savings and entrepreneurship in Nigeria through a business model that stands the test of time and ensures that the bank is always there for the customer in an era where many have closed shop no sooner than they opened.
The bank is there to fill a gap in the industry by offering  savers and borrowers, a high standard and best practice transactions platform; one they can access their funds from anywhere in the country and get credit at a highly affordable interest rate, he said.
Usman, who was speaking at the inauguration of the bank in Lagos recently said: “Lovonus operates mobile banking and has given its marketers mobile phones which they use to collect deposits and lodge into customers’ accounts.
There is immediate alert system to the customer on every deposit. Besides our regular savings and credit products, we want to create a niche in financing small trade and investments and to that extent invites customers with genuine local purchase orders (LPO’s) to knock at our doors.”
“The bank runs on systems and processes that ensure that every customer leaves our premises smiling and better than he or she was before the encounter.
“We will measure our success by the success of our customer and where the customer failed in his business we have failed, so from the beginning we assign competent and dedicated staff as well as state of the art infrastructure to every account in our bank,” he added.

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