The Izon-Ibe Microfinance Bank is a grassroots-oriented financial institution and a source of financial services for entrepreneurs and small businesses lacking access to banking and related services.
The establishment of the Izon-Ibe Microfinance Bank was geared towards promoting self- reliance, employment generation and wealth creation. The bank would boost commerce in the area, as people in the area majority of who are fishermen and traders would have access to loan facilities.
The two main mechanisms for the delivery of financial services to clients are:
Relationship-based banking for individual entrepreneurs and small businesses
Group-based models, where several entrepreneurs come together to apply for loans and other services as a group.
The institution is aimed at supplying financial services to low-income employees, which is closer to the retail finance model prevalent in mainstream banking.
The IBM, as a grassroots-oriented financial institution has important roles to play in the successful leadership of the Restoration Government and the development of Bayelsa State at large.
