The facility is targeted at economically active individuals, Small and Medium scale entrepreneurs for business expansion.

Features & Benefits:

» Loan size N30,000 – N500,000
» Tenure 1-12 Months.
» 30% cash collateral of the total cost of the asset (GTF).
» Loan application fee N1000
» Processing fee 2%
» Insurance cover on the asset financed.
» Credit search fee N300.
» Payment is made to the Vendor by Reliance Microfinance Bank.
» Repayment mode: Weekly or Monthly.
» Invoice/receipt issued in the name of Reliance Microfinance Bank.
» Original invoice/receipt is kept by Reliance Microfinance Bank until full repayment.
» Original invoice/receipt by Reliance Microfinance Bank is issued to the customer after the completion of payment.

Requirements:

» Account Opening (Current Account)
» Hand Written Application Letter Stating the Amount, Purpose and Duration
» Application Loan Form to be completed with two(2) passport photograph
» Dealer’s Proforma Invoice (This should be from a Vendor, addressed to the customer name and address only)
» Applicant valid means of identification.
» Account statement of the applicant and the Guarantors (Internal/External)
» Consent Letter on credit search.
» Completed Deed of Guarantee forms (personal/corporate)

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