The facility is targeted at economically active individuals, Small and Medium scale entrepreneurs for business expansion.
» 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
» Maximum tenor of Six (6) months
» Flexible conditions
» Two credible guarantors
» Guarantors’ valid means of identification.
» Guarantors’ valid utility bill not later than 3months.
» Customers statements of account
» Post dated cheques by customer covering the loan period.
» One undated cheque from guarantor(s)
» Completion of Dud cheque form by applicant and guarantors.
» Insurance cover on the asset.
» Letter of irrevocable payment undertaking by the applicant.
» Collateral (Financed Asset)
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