Group Loan Scheme

The facility is extended to individuals who belong to an informal group in the same or different line of business. This product gives access to credit for self-selected group of people with at least 10-20 members. This helps the member to increase their working capital and business expansion.

Target Audience:

» Small Scale Entrepreneurs
» Artisans, Organisations
» Individual Traders
» Businessmen/women
» Group/Traders Association and Amalgamated Unions

Features & Benefits:

» Competitive interest rate
» Group members must be in the same location
» 10% equity contribution
» 3.5% monthly interest rate
» Maximum tenor of Six (6) months
» Group guarantee
» Two credible guarantors. (Cross guarantee of loan beneficiaries and an external guarantor each)


» Account Opening
» No account statement for applicant and guarantor.
» Applicant and guarantor valid means of identification.
» Completed Deed of Guarantee forms
» Minimum of 5 members to obtain loan from the bank at a goal.
» Cross guaranty of members as security to the facility throughout the loan tenor

Take the Next Step Towards Your Loan

Call Us Direct on; +234-908-737-2380