Small Business Loan (SBL) is designed to meet the capital needs of small and medium scale entrepreneurs who require more funds for expansion.
Features
- Facility range: N50,000 (minimum) to N500,000 (maximum)
- Methodology: Individual
- Duration: 1-12 months
- Grace period: 1 month
Benefits
- No collateral
- Access to funds for business expansion
- Access to other loan products
- Flexible repayment structure
- Training on basic financial management, business planning and customer relations
- Low interest rate
- Expert financial advice available
Requirements
- Loan application letter
- Duly completed application form
- 2 guarantors
- Duly executed Global Standing Instruction
- A valid means of ID (national ID, driver’s license, voter’s card or international passport)
- Current utility bill
- 4 recent passport-size photographs
