Assessing the impact of NIRSAL microfinance in promoting entrepreneurship / small & medium enterprises in Jimeta, Adamawa State.

Assessing the impact of NIRSAL microfinance in promoting entrepreneurship / small & medium enterprises in Jimeta, Adamawa State.

Registration ID: IJNRD_201588

Published ID: IJNRD2307198

DOI: Click Here to Get

Abubakar Sadiq Abdulazeez

microfinace,loan,small & medium enterprises

Most Microfinance institutions in Nigeria that were established to raise funds for domestic resource usage have closed down due to inability to deliver on their mandate or inability of potential beneficiaries to make up for the need to access and repay lending funds in order for those microfinance banks to continue operating. This article investigates the role of Nirsal Microfinance Bank in promoting SME in Jimeta, Adamawa State. The research investigates the level of investment and improvement in SME operations, as well as whether Nirsal Microfinance has contributed to job creation and employment generation through business launches and expansion in Jimeta, Adamawa state. Primary data was used in the study, with questionnaires issued to entrepreneurs who joined in the NIRSAL loan scheme between 2021 and 2022. The questionnaire was designed with a four-point Likert scale in mind. The findings revealed that the Nirsal Microfinance Bank lending Scheme has significantly enhanced economic activity and the level of funding for SMEs. The findings also demonstrate that the majority of respondents agree that the loan application and approval processes at Nirsal Microfinance Bank are rapid enough to meet their needs. The study concluded that Nirsal Microfinance Bank was established to create jobs and improve the skills of individuals in rural communities, to provide smallholder farmers and SMEs with access to cheaper and more accessible money, and to provide SMEs with loans. Recommendations were made, including improving the speed with which loan applications for SMEs are processed and focusing on new business starts.

Published Paper   E-Certificate

"Assessing the impact of NIRSAL microfinance in promoting entrepreneurship / small & medium enterprises in Jimeta, Adamawa State.", IJNRD - INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT (www.IJNRD.org), ISSN:2456-4184, Vol.8, Issue 7, page no.b887-b893, July-2023, Available :https://ijnrd.org/papers/IJNRD2307198.pdf

Volume 8 Issue 7, July-2023

Pages : b887-b893

Paper Reg. ID: IJNRD_201588

Published Paper Id: IJNRD2307198

Downloads: 000121215

Research Area: Management

Country: mubi, adamawa, Nigeria

Published Paper PDF: https://ijnrd.org/papers/IJNRD2307198.pdf

Published Paper URL: https://ijnrd.org/viewpaperforall?paper=IJNRD2307198

Journal Name: INTERNATIONAL JOURNAL OF NOVEL RESEARCH AND DEVELOPMENT(IJNRD)

ISSN: 2456-4184 | IMPACT FACTOR: 8.76 Calculated By Google Scholar | ESTD YEAR: 2016

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.76 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

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This work is licensed under a Creative Commons Attribution 4.0 International License and The Open Definition

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