The benefits of partnering with Bosak are immense. It’s been over seven years since I started with them and it certainly has been worth my while. In 2016, there was a fire outbreak in my store. I lost goods valued at N400, 000 and still had a loan running. It was a terrible period for me with so many thoughts going through my mind. Thoughts of where and who would I run to. Fortunately, the Loan Officer attached to me notified Bosak management of my situation. Can you believe Bosak not only restructured my existing loan, they even refinanced it, enabling me to get back on my feet faster? Their show of support was simply overwhelming and totally unexpected. Friends and family could hardly believe their eyes. I have never had challenges repaying loans because Bosak money is good money. I absolutely love banking with Bosak – Mrs. Busola Oyewole
Choosing to partner with Bosak Microfinance Bank Limited for the past six years is a smart decision I am glad I took. The Bank’s contribution to my life personally and that of my family is one for which I am truly grateful. For years I toiled under the sun as a hawker, subjected to all kinds of abuse and hardship but since doing business with Bosak, that is now a thing of the past. I now own a shop where I sell my wares. They even came through for me by awarding my child an educational scholarship. Banking with Bosak is so convenient with the weekly repayment method. Even better, an officer comes over to my shop to pick up the money. Everyone really should get on board with Bosak. – Mrs. Biola Kuseju
At times, it is during hardships that strong bonds are forged. Over five years ago, my bond with Bosak Microfinance Bank Limited was forged. The loan I got was during a time of dire need. Best part is it came in a timely manner with no hassles. – Mr. Felix Akinrimisi
The weekly repayment option Bosak Microfinance Bank Limited offers with their officers coming over to pick repayments is a service I have particularly enjoyed in my roughly five years of doing business with them. My friends have their ears full with me going on about Bosak. How can I not though? Bosak has been there for not just me but also my family. One of my children is employed by the Bank with another being awarded educational scholarship – Mrs. Kehinde Abudu
Honestly, I can’t think of a more beneficial relationship than the one I have with Bosak Microfinance Bank Limited. It has been five years and counting and the benefits just keep adding up. I purchased electronics through the Asset Finance Loan product of the Bank and even had my child in the Bank’s employment till she went on to further her education. Bosak is a great Bank to do business with. I’ve been telling this to everyone who cares to listen – Mr. Olusegun Adeduro
Mrs. Mary Adeosun, a resident of Akindiya Street, Agege, Lagos,was affected by a heavy rainfall leading to loss of stocks. According to Adeosun “since that time I had been unable to sell more than one bag of garri and rice which generates less than N15,000 a month.” As a member of the “Little by Little” group, she was able to access N40, 000 through the Bosak Trade Loan. Filled with emotion she said, ”we thank God for your bank, now I sell more than five bags of rice, beans, maize and make about N25,000 in profit monthly. The business we are involved with is about money, the more money you have the more bags you are able to purchase in bulk for sale at a higher profit. We hope to graduate up to your maximum loan band of N250, 000 in the long run so that our business can grow more than this (sic). God will continue to bless you, so that you can be helping us (sic).”
For Mrs. Adeleye Olajumoke of Ile-Epo market in Iyana Ipaja who was also a victim of the recent flooding of Lagos Metropolis, it is a tale of mixed blessings. Her 18 year old son drowned in the flooding resulting in her inability to operate her provisions store for two months. Her credit facility with the bank was availed under the joint liability group lending model with members of the group making due repayment installments on her behalf.
She was able to resume business again. She commented, “Bosak is a God-sent Bank. It is as if you taught members of Pipeline Group how to show empathy, they showed me the kind of love I have never experienced before. Now my business is moving fine despite being absent from the market for two months. Six months ago, I started my shop with five cartons of Indomie noodles and some biscuits, today I supply Indomie to most of the retailers here, selling almost 200 cartons weekly and that is because of the loan we got. When the marketers come from the manufacturers, they always meet cash and that gives them confidence to always give us our supply ahead of other competitors in addition to extending credit. We continue to pray that your Bank grows from strength to strength, because that is how we too can grow. When the tree is at rest, the bird on it too will be at rest.” Adeleye further attributed the success of her business and that of her group members to the saving culture encouraged by the Bank.
Commenting on how the level of the bank’s sophistication has positively impacted on customers and helped them in planning their finances, Joseph Odo, an automobile spare-part dealer in Jankara Market, Kollington, Lagos, said: “One thing that makes us happy in this market as your customer is that whenever we give your Loan Officers money they record it and we get transaction alerts immediately. With your phone you can know how much you have in your account when you go and purchase goods in the market. Many times you find our people arguing with other banks as to how much they have paid them, but in your case, if any deduction is made or money is deposited in the account one will know immediately. We are all determined in this market to continue banking with you. Four months ago when you visited us for the first time you know how scanty our shops were; since we got N50,000 each from your bank, we have largely increased our stock of parts in this D-line. Other dealers close to us come and buy spare parts from us as we always have money to buy goods from the suppliers as soon as their containers arrive. Now your Bank should just try and increase the amount you are lending to us, some of us make sales of over N150, 000 weekly. If you give us more money we will not disappoint the Bank."