How GTBank Gambia Supports Small Businesses in Gambia

As part of our efforts to create more awareness about the banking products and services in the Gambia, we have researched some solutions GTBank Gambia offers to small businesses and startups in the Gambia.

GTBank Gambia is one of the leading commercial bank in The Gambia with its Head Office at 56 Kairaba Avenue, Fajara. The Bank has 16 branches, 1 Electronic Branch and 26 ATMs (Sept. 2016) across the country.

As one of the biggest bank in the Gambia, how does GTBank Gambia support small businesses and entrepreneurs in the Gambia?

Cash Management solutions

Managing small business financial resources requires proper management of cash and related working capital resources. This includes paying vendors, receiving sales proceeds and timely banking services.

Whether you aimed to improve liquidity or profitability via excess fund management, GTBank could help you to do it more efficiently. Their team of professionals will work with you to address your short-term liquidity management and longer-term investment goals.

Point of Sale (POS) Terminals

In addition to its own Verve Debit card, GTBank Gambia POS terminal can accept both MasterCard and VISA. This will allow customers to do shopping at your store without necessarily carrying physical cash. GTBank POS Terminals have other benefits including account balance enquiry, statement printing and funds transfer between two GTBank accounts. POS terminal can help reduce the cash management cost including insurance, transport cost and time to bank and even the risk of cash fraud. These features can be beneficial to both large and small businesses.

Dedicated Relationship/Account Manager

With well-trained customer relationship managers /account officers, GTBank Gambia supports its customers with a dedicated account officer. Customers who open any GTBank business account are introduced to their account manager who will take time to get to know and understand their personal/business needs.

Cash Collections services

The Gambia is still largely a cash economy, which means that most businesses tend to make more physical cash sale than POS and credit sale. This means that businesses would require frequent deposit of cash into their account to maximize their working capital while minimizing cash management cost.

GTBank offers cash collection service where an officer of the bank can pick the cash from the customer’s premises. This will allow customers to focus on the strategic matters such as value chain management.

Loans and Overdraft

With the aim of supporting liquidity management and business growth, the bank also offers overdraft and term loan facilities to businesses. This range from fulfilling a short term liquidity needs such as supplier invoice settlement or long investment such as procuring a new machine.

If you are looking for a loan from any bank, then read these articles on how bankers assess loan applications and how to prepare cash flow projection.

e-Banking Application.

GTBank Gambia offers a robust technology platform to all its customers for easy and convenient banking. This includes Internet Banking, Mobile Banking, NAWEC Cash Power Vending on ATMs, POS, etc. Adding to these services, GTBank customers also receives electronic statement, SMS and email notification on every transaction in their account. These applications provide up to date information about the customers financial transactions and position with the bank.

In case you want to learn more about the services and products offered by GTBank Gambia, you can visit the bank’s website or use the contact below:

Guaranty Trust Bank (Gambia) Limited

56 Kairaba Avenue, Fajara, K.S.M.R, The Gambia

Tel: +220 4376 371 – 4

E-mail: corpaffgm@gtbank.com & Website: www.gtbankgambia.com