We were born out of the need. The need to provide Financial Services to the low and medium income earners.
At the Beginning.
The concept of Sunbeam Microfinance Bank evolved from Efon-Alaaye Community Bank. Efon-Alaaye Community Bank was commissioned on the 26th of May 1992 with paid up capital of N400,000 (Four Hundred Thousand Naira) out of N1,000,000 (One Million Naira) authorized. Presently the shareholders` fund has gone up to N50,000,000 (Fifty Million Naira) and total assets amounts to about N210,000,000 (Two Hundred and Ten Million Naira). The Bank is located in Efon-Alaaye, moderately populated area in Ekiti State, Nigeria, West Africa.
The Bank has a vision of being the leading and foremost Microfinance Bank in Nigeria known for its reliability, trustworthiness, efficiency and professionalism in raising the standard of living of its numerous customers and a mission of facilitating a rapid socio-economic transformation and industrial revolution in the community through micro enterprise development.
Our Mission is to facilitate a rapid socio-economic Transformation and industrial revolution in the Community we are serving through Micro-enterprise development.
The Bank presently operates as a Unit Microfinance Bank within the Efon Local Government of Ekiti State. The Bank intends to open a new branch within the next (3) years to be located in Ado Ekiti, the State Capital after meeting all regulatory requirements.
The Bank currently operates as a Unit Microfinance Bank with the Head Office at Efon - Alaaye, Ekiti State, Nigeria with the present total equity of N52,917,930.62 and intend to grow equity to N121,856,530 within the next three (3) years projections. The equity is expected to fund the Head Office and a new branch at Ado Ekiti.
The Bank shall cover villages and towns within the following Local Governments; Efon - Alaaye, Irepodun, Ekiti West, Ekiti South West,Ijero - Ekiti and Ado Ekiti through group formation and extension of micro loans to our target clients
With favorable three year financial projections, the bank is positioned to achieving its vision and goals to provide simple and efficient financial services to the economically active poor, in order to grow their businesses thus alleviating poverty and creating wealth; in the same vein, adding value to her investors.