This facility is designed to help business finance stock and other business needs.
Features & Benefits
- Available to customers trading in all business segments with regular credit/debit transactions.
- Open to persons trading in their personal names.
- Minimum loan amount N100,000.
- Maximum loan amount N5,000,000 (N10m for repeat customers.)
- Open to new to bank customers.
- Top-up available for customers who have paid down at least 50% of the original principal loan amount as and when due without PDOs.
- Maximum tenor is 12 months.
- Competitive interest rate
- No guarantors needed.
- No collateral
Documents Required
- Customer’s application letter.
- 6 months bank statement.
- Execution of Global Standing Instruction (GSI).
- Personal Guaranty of the Promoter/Obligor supported with affidavit of statement of net worth.
- Undated cheques of another bank in line with the tenor.