Revolving Short-Term Loans vs. Long-Term Loans: Why Nigerian Business Owners are Choosing Digital Lenders over Commercial Banks

According to the National Bureau of Statistics, about 90.5% of MSMEs lack access to finance. This is significant because SMEs represent about 90% of businesses in Nigeria and employ more than 70% of the workforce. Without adequate access to finance, businesses can neither grow nor enter new markets. In addition, it limits job creation and