Apply Here: Micro Business Loan Scheme
About Micro Business Loan Scheme
Micro Business Loan Scheme provide loans with no collateral to young business men and women. We partnering with Microfinance banks and MSME Agencies in Nigeria to offer loans to prospective individuals.
LOANS CATEGORIES
Available loan amounts of
Facility range: N10, 000 (minimum) to N300, 000 (maximum)
· Methodology: Individual
· Duration: months
- N10,000
- N20,000
- N50,000
- N100,000
- From 200,000 and above you MUST be a member
Loan Terms
- Loan Tenor: 1-12 Months
- Weekly / Monthly payment
- Administrative Fee
- From 10,000 – 49,999 – 2,000
- From 50,000 – 99,999 – 3,000
-
From 100,000 and above 5% of loan
- File Opening
- Verification of data submitted
- Processing of loan
-
All loan categories attracts a nominal Interest rate of 5% with reducing balance
- Non Member: 5%
- Members: 3%
What are the requirements?
- Applicants must be between the ages of 21 - 45 years
- Must be an entrepreneur or aspiring entrepreneur
- Must own a business or a business Initiative
- Must have a valid BVN
- Must have a bank account with GTBank
- Must have a valid Identification card (Voters card, National ID card, Driver’s license, International passport)
- Must provide two guarantors
- Must have a verifiable residential address ( Business location is optional)
- Must reside in Nigeria
- Loan application letter
- Duly completed application form
- Current utility bill
- 4 recent passport-size photographs
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
About Micro Business Loan Scheme
Micro Business Loan Scheme provide loans with no collateral to young business men and women. We partnering with Microfinance banks and MSME Agencies in Nigeria to offer loans to prospective participants. Interest FREE loans will be given to all YEN members and affiliate NGO’s.
LOANS CATEGORIES
Available loan amounts of
Facility range: N10, 000 (minimum) to N300, 000 (maximum)
· Methodology: Individual
· Duration: months
- N10,000
- N20,000
- N50,000
- N100,000
- From 100,000 and above you MUST be a member
Loan Terms
- Loan Tenor: 1-12 Months
- Weekly / Monthly payment
- Administrative Fee
- From 10,000 – 49,999 – 2,000
- From 50,000 – 99,999 – 3,000
-
From 100,000 and above 5% of loan
- File Opening
- Verification of data submitted
- Processing of loan
- All loan categories attracts a nominal Interest rate of 5% with reducing balance
- Non Member: 5%
- Members: 3%
What are the requirements?
- Applicants must be between the ages of 21 - 45 years
- Must be an entrepreneur or aspiring entrepreneur
- Must own a business or a business Initiative
- Must have a valid BVN
- Must have a bank account with GTBank
- Must have a valid Identification card (Voters card, National ID card, Driver’s license, International passport)
- Must provide two guarantors
- Must have a verifiable residential address ( Business location is optional)
- Must reside in Nigeria
- Loan application letter
- Duly completed application form
- Current utility bill
-
4 recent passport-size photographs
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
Apply Here: Micro Business Loan Scheme
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