FATOGUN, Olukunle Ibukun
Department of Accountancy
Federal Polytechnic Ilaro, Ogun State
olukunle.fatogun@federalpolyilaro.edu.ng
ABSTRACT
This study examined the impact microfinance banks on the survival of SMEs. The main goal of
this research is to assess how financial and non-financial services provided by microfinance
banks enhance the survival of SMEs. The study collected primary data using questionnaire, and
analyzed same using linear regression analysis with the help of the Statistical Package for Social
Sciences (SPSS) version 25.0. The study found that microfinance banks have a positive impact
on survival of SMEs through the provision of financial (credit facilities) and non-financial
(education) services. The study concludes that provision financial and non-financial services by
microfinance banks promotes the survival and growth of SMEs; and that survival and growth of
SMEs is influenced by financial and non-financial services provided by microfinance banks. The
study recommends that, to strengthen SMEs, policymakers and regulatory authorities should
empower and enable microfinance banks to provide financial and non-financial services to SMEs
to facilitate their productivity, hence growth and survival.
Keywords: Financial service, microfinance bank, non-financial service, survival of SMEs