Loan Dynamics

  • Maximum Loan Amount – N500k to N2million
  • Maximum tenor of 3 months
  • Irrevocable Domiciliation of inflows is required
  • Repayment for the loan shall be equal monthly repayment of principal and interest
  • No Equity Contribution
  • Interest rate: Competitive
  • No Collateral

Loan Requirements

  • Business must be duly registered with Corporate Affairs Commission.
  • Operate an active business account with the Bank for at least 1 year.
  • Minimum sales of N1million and 10 transactions monthly in the last 12 months on the SME MarketHub.
  • Business should be more than 3 years and be operational on the SME MarketHub for atleast 6 months.
  • Domiciliation of Business Account (Execution of domiciliation agreement)
  • No past due obligation with any Bank nor have more than two returned cheques in the last one (1) year