The factors that influences small and medium enterprises towards obtaining credit financing from banks in Nigeria

ABSTRACT: The purpose of this study is to examine the factors that Influences Small and Medium Enterprise towards obtaining credit financing from the Banks in Nigeria. The use of the questionnaire instrument to collect data from a sample of Small and Medium Enterprise (SME) Owners looking at their perception in relationship to obtaining bank credit was employed. The country Nigeria is a developing nation, the second biggest economy in Africa and it is well contributed to by the SMEs sector and Banking sector as well. Due to the situation of inadequate finance for the growth and development of SMEs, this thesis tries to look into some inherent characters that appear as factors which are significant to the relationship with the banks and SMEs in terms of credit finance. With the use of the software SPSS 17.0 analysis was done by one way ANOVA and independent t-test with variables on the SMEs perception toward obtaining loan from banks. The analyzed results showed a relationship that is significant to the wide ranging literature review. Keywords: SMEs, Banks, Credit, Finance, Nigeria. …………………………………………………………………………………………………………………………