Corporate or Business Loan

Features

• 1) The Business owner shall open a functional business account with the Bank with the Business name.
• 2) The Business owner shall provide at least 3 months statement of account to aid in analysing the business capacity
• 3) The Business owner shall provide guarantors from the Polytechnic depending on the amount he wants to obtain.
• 4) The interest rate shall be 30%per annum
• 5) All loan documents must be duly signed.
• 6) Loans must be duly approved before disbursement

• 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 or more 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