AVAILABILITY AND ACCESSIBILITY OF LOAN ON THE SURVIVAL OF SMALL AND MEDIUM ENTERPRISES IN IKEJA LOCAL GOVERNMENT AREA LAGOS STATE

📄 Project Abstract

Small and Medium Enterprises (SMEs) are regarded by many as the backbone of every country's economy. Most of the large corporations of today were developed from SMEs. Small and Medium Enterprises do not only serve as the backbone of a county's economy but also support the larger corporations in a form of sub-contractors, suppliers of manufacturing materials or customers. SMEs in Nigeria have a lot of difficulties when accessing loan from financial institutions and financial institutions too have issues granting loan to SMEs. The major objective of this study is to find out the numerous factors that affect availability of loan and challenges faced by SMEs in accessing available loan from financial institutions. For the purpose of this study, descriptive survey design was adopted with the use of questionnaires as data collection tool. Data collected was analyzed through Person's Moment Correlation Coefficient with the aid of statistical package for social sciences (SPSS) version 22.0. St...