Small Business Loan (SBL)

Small Business Loan (SBL) was developed to meet the needs of Small and Medium Scale business persons who could not assess loans from our regular branches as a result of the size of their business, which needed more funds than our regular branches could provide.

  • Facility range: N50,000 (minimum) to N500,000 (maximum)
  • Methodology: Individual
  • Duration: 1-12 months
  • Grace period: 1 month


  • 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
  • Loan application letter
  • Duly completed application form
  • 2 guarantors
  • A valid means of ID (national ID, driver’s license, voter's card or  international passport)
  • Current utility bill
  • 4 recent passport-size photographs

1. Q: Do I need collateral before I can access this loan?
    A: No. You do not need collateral as a condition but two guarantors that can stand as your surety in case of default.

2. Q: Can I re-apply for a higher loan after the full repayment of the previous loan?
    A: Yes. You can have access to a higher loan depending on the previous repayment performance.

3. Q: Can I reduce the repayment duration?
    A: Yes. You can reduce the repayment duration to the number of months that suits you

4. Q: Is this loan insured?
    A: The loan is insured against death, fire in the business place or disability