SME Loan

SME Loan

• High leverage on technology platforms and agency collaboration.
• Maximum Tenor is 12 months.
• Loan amount will be capped at N2 million

FAQ

What makes me eligible to access a loan?

•  must be 18years and above
• must be a working class or have a good  and profitable business
• must be credit Worthy

How much can one borrow?

• for small loan N100,000 – N500,000
• for festival N40,000 – N100,000
• for asset N100,000 – N200,000
• for individual N200,000 – N5,000,000

Why was I given less than what I applied for?

• It could be that the loan you want to apply for is more than what you are capable of paying, for someone making N30,000 per month and wants to access loan of N100,000 that will require her paying N22,000 per month, such a person will not be able to pay back such loan if given
• Or you have a bad credit history with another microfinance or commercial bank, such a person will be disqualified

Which documents do I need to submit?

• Valid I.D card

• Utility bill

• BVN print out or the number

• Two (2) passport photographs

Note:  A prospective client must also provide a guarantor who has a valid means of livelihood and must be ready to repay the loan in case default arise.