5% Interest to be paid on GH¢600m stimulus package

As a result of the COVID19 impact on Small and Medium-scale Enterprises (SMEs), a GH¢600m stimulus packages was made available for them in a form of a soft loan.

However, all SMEs who benefited from the package are required to pay 5% interest on it as directed by the National Board for Small Scale Industries (NBSSI).

Payment Due and Requirements

The entity, directed by government to disburse the soft loan, said businesses will have a three-year period to pay back the loan.

The Executive Director for NBSSI, Kosi Yankeh-Ayeh announced the introduction of an online portal where SMEs can fill in their applications to benefit from the loan package.

Kosi Yankeh-Ayeh stressed on the fact that businesses are required to obtain their Tax Identification Number (TIN) in other to benefit from the package.

Kosi Yankeh-Ayeh assured the public of the absence of politics in the allocations.