Individual Micro Loan
Micro loan is a small loan typically for low-income and entrepreneurs especially in poor or developing regions.
Personal Loan Requirements
- Duly Completed account opening form
- Duly completed loan form
- Passport photographs of borrower
- Valid means of identification
- Recent utility bill
- Sales record
- 10% Equity contributions
- 3% upfront fee and 4% flat monthly interest rate
- 2 Qualified guarantors
- The customer must complete the Bank’s Loan application form to enable us complete loan’s tracker compliance form.
- Any amount from N50,000 requires security in form of supported Third Party Guarantee as stated in (1) above.
- Customer must provide at least 20% Equity Contribution of the loan amount being requested. 4. Customer is responsible for Notary Stamping.