This loan product is designed to reduce the waiting period of clients to zero and increase their cash flow. Mid-term loan can be accessed by members of a group as more funds to finance their businesses while still repaying their previous loans.
- Facility amount: N10,000 (minimum) to N80,000 (maximum)
- Methodology: Group
- Duration: 8 months
- Grace period: 2 weeks
- Access to more funds while still repaying previous loan
- No collateral
- Lower interest rate
- Flexible repayment structure
- Expert financial advice available
- Duly completed application form
- Current utility bill
- A valid means of ID (national ID, driver’s license, voter's card or international passport)
1. Q: What is the maximum amount I can access?
A: N80, 000
2. Q: Do I need the consent of my Union leader before I can access this loan product?