Group Loan
This loan product is designed for those clients willing to come together to guarantee each other's access to credit facilities as individuals
What are the requirements?
- Valid National ID/Driver’s license with NIN/Passport with NIN and passport photos
- Have a reliable source of income
- Have 6-7 other business persons in need of the loan
- Attend one-hour weekly meetings at the branch
- Should be between 18-75 years of age
Benefits of this loan
- One can borrow without traditional security like land titles and Motor vehicle cards
- Networking and opportunities with other business people
- Low interest rates
- Fast turnaround time
- Repeat borrowers get loans on the same day of application