Option Financial Services (OFS) has unveiled its Daily Loan Solutions (DLS), a revolutionary initiative aimed at addressing the financial challenges faced by micro, small, and medium enterprises (MSMEs) in Nigeria. The product, launched in Lagos, provides collateral-free loans with flexible repayment terms, designed specifically for petty business owners and entrepreneurs.
Key Features of DLS
- Flexible and Accessible Loans
- Loan amounts range from ₦100,000 to ₦500,000.
- Minimal paperwork and quick disbursement to reduce access bottlenecks.
- Supportive Benefits
- Free financial advisory services and business analytics.
- Strategic partnerships with larger companies to foster growth.
- Low-Cost Financing Options
- Single-digit interest rates across a variety of loan products, including:
- Working capital loans.
- Business expansion loans.
- Equipment financing loans.
- Emergency loans.
- Single-digit interest rates across a variety of loan products, including:
Founder’s Vision
Habeeb Fasuyi, CEO and Founder of OFS, emphasized that DLS was developed to bridge a significant gap in the financial market by offering affordable and flexible credit to petty business owners.
- Fasuyi noted Lagos State’s role as Nigeria’s economic powerhouse, contributing over 30% to the nation’s GDP, as a key motivation for the initiative.
- He reiterated OFS’s commitment to supporting the Federal Government’s economic agenda by empowering the private sector to drive economic development.
Speaking at the event, Dr. Ben Akabueze, former Director-General of the Budget Office, highlighted the transformative potential of DLS in promoting financial inclusion.
- Daily loans encourage savings culture and financial discipline, empowering small businesses to grow while reducing poverty and enhancing resilience.
A Broader Impact on MSMEs
The launch of DLS is expected to foster economic development by:
- Creating jobs and stimulating local economies.
- Strengthening financial inclusion among underserved business owners.
- Encouraging private-sector contributions to nation-building, inspired by models in developed economies.
Option Financial Services, through its innovative Daily Loan Solutions, is set to transform the financial landscape for Nigerian MSMEs. By offering collateral-free loans with supportive services, the initiative aligns with national efforts to promote inclusive economic growth and enhance the resilience of small businesses. This marks a significant step toward empowering entrepreneurs and fostering sustainable development across the country.
