Group Loan

GROUP LOAN

The loan can be used as capital for a micro business or other income-generating endeavors by any group of targeted customers to improve their standard of living. Lack of capital or collateral should not affect your company’s expansion. Our Group Loan is a loan for which the solidarity of the group serves as a guarantee. The business owners select group members and guarantee each other. The minimum number of people in a group is 5.Show us your business, and we’ll help you grow it to new heights. We’ll also figure out how much you can borrow to avoid getting into too much debt and provide expert, reputable financial and business management advice.

Product Features

Loan amount: Up to N500,000.
Interest rate: Reasonable rate
Loan term: Up to 6 months
Repayment mode: Flexibility according to cash flow
Guarantee: The group members will act as guarantor to each other.
Interest rate: Very competitive
You will get guidance and training through our group meetings on how to manage your finances and business.
Our processes and fees are transparent.

Eligibility

Be a major age of 18 to 60 years old
Valid means of identification
6 months account statement from each member
Group must have been together for at least 2 months
Group member’s interest must be tailored towards doing various/ the same business, living in the same area or doing business in thesame environment.
Have a legal business and regular income
There should be a document from the court or notory public giving the group a legal backing.
The group leader will be personally accountable for ensuring that loan repayments are made when due.