FairMoney Microfinance Bank has launched a new Asset Financing Solution aimed at expanding access to vehicle financing for mobility entrepreneurs and small business operators across Nigeria as part of efforts to deepen financial inclusion and support the country’s growing transportation and logistics sector.
The technology driven initiative will provide eligible transporters and delivery merchants with access to structured financing for business use vehicles through flexible repayment plans subject to credit assessment and eligibility requirements. The bank said the solution is designed to address limited access to financing for micro and small businesses operating within Nigeria’s mobility and logistics ecosystem.
Speaking on the development, the Managing Director of FairMoney MFB, Henry Obiekea, said the initiative aligns with the institution’s mission of creating economic opportunities and supporting entrepreneurs who contribute significantly to commercial and transportation activities nationwide. According to him, the repayment structures were designed around the daily and weekly cash flow realities of mobility businesses in order to support operational continuity and sustainable growth.
The bank noted that the programme represents a major expansion of its product ecosystem beyond personal and working capital loans into commercial asset financing. It added that the initiative would also help entrepreneurs build verifiable credit histories while integrating more informal sector operators into the formal financial system. The Asset Financing Solution is now available to eligible applicants through the FairMoney Business platform and designated partner hubs in major cities across the country.