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What’s in it for You

  • Eligible to prequalified customers
  • 2.75% per month (33% per annum)
  • Customers can access up to 50% of average annual turnover
  • Loan tenure is 6 months (12 months for schools)
  • You can open a corporate account and operate it for 12 months before applying for the credit facility

Benefits

  • Funds are disbursed instantly
  • Eligible customers can apply via GAPs/GAPslite platform
  • Repayment is structured in two ways: Monthly interest payments and quarterly principal repayments (option is only available for schools) Equal monthly repayment of principal and interest

How to Apply

  • Simply select Loans and click on QuickCredit for Small Business on GAPs/GAPsLite platform and follow the prompts.

Who Can Apply

SMEs in operating in the following sectors

  • Education - Creche, Primary and Secondary School
  • Healthcare - Hospitals, Clinics, Retail Pharmacies and Diagnostic centres

FAQs

It is a time loan product aimed at supporting working capital needs of SMEs within the following sectors:

  • Education (Creche, Primary and Secondary)
  • Healthcare (Hospitals, Clinics, Retail Pharmacies, Patent Stores and Diagnostic Centres
  • Trade
  • Service

N10,000,000.00 (terms and conditions apply).

  • 6 months (Trade, Services and Food sectors)
  • 12 months (Healthcare, Fashion and Education Sectors)

The interest rate across board is 2.75% per month (30% p.a.).

Maximum of 50% of your 12 months average turnover

Yes, account must have been in operation for at least 6 months.

Availed immediately via e-channels after a successful application (subject to satisfactory Credit Check)

Terms and Conditions

GENERAL REQUIREMENTS & ELIGIBILITY TERMS

  1. Customer must have actively operated a Corporate or Business name account with the Bank for at least 6 months.
  2. Age of business must be 3 years and above (at least 1year of which must be evidenced by a bank statement)
  3. Qualified customers can access 50% of their annual turnover calculated over the last 12 months (subject to maximum loan amount and other eligibility criteria)
  4. Lodgement and turnover analysis will be done on customer’s account to ascertain level of business in the last 12 months
  5. Domiciliation of Business account (execution of domiciliation agreement)
  6. Customer must have zero record of returned cheque within the last 12 months.
  7. Satisfactory Credit Bureau report of the customer (Borrower)
  8. Customer must not have any past due obligation with any bank