Group Loan

Features

• 1) Interest Rate is 30%p.a.
• 2) Loan amount is based on capacity of each individual
• 3) Individuals cross guarantee themselves and also if the group is not well-known, additional guarantor will be provided from the Polytechnic based on the loan amount
• 4) All loan documents must be duly signed along with loan agreement form.
• 5) Only approved Loans are disbursed

• Required Guarantors by Loan Amount:

  #100,000.00 and below: 1 Guarantor

  #100,001.00 - #200,000.00: 2 Guarantors

  #200,001.00 - #1,000,000.00: 2 Guarantors

  #1,000,001.00 and Above: 3 Guarantors

• Charges Chart by Loan Amount:

• Management Fee

  1% of the loan amount upfront

• Advisory Fee

  #100,000.00 and below: N2,000.00

  #100,001.00 - #200,000.00: 2% of Loan Amount

  #200,001.00 - #500,000.00: 3% of Loan Amount

  #500,001.00 and Above: 4% of Loan Amount