This is a term loan for SMEs aimed at facilitating asset acquisition and business expansion.
- Maximum Loan Facility Amount - N20million
- Maximum tenor of 36months
- Irrevocable Domiciliation of inflows is required
- Repayment for the loan shall be equal monthly repayment of principal and interest or Flexible repayment of principal and monthly repayment of Interest
- Equity Contribution is 20% of asset financed or business expansion fund.
- Interest rate: Competitive
- Security for the loan is personal Guarantee and statement of net worth of promoter and 3rd party OR Legal Mortgage on financed properties Ownership of financed asset.
- Government or professional operating licenses required. (Whichever applies)