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Loan products we offer
- Nano loans (Keremi)
- No collateral application with only BVN
- Clean Credit History
- Fully Digital assessment and disbursements in 30 minutes
- Max amount is N50,000
- 60 days Tenor
- Disbursement must be into the e-Barcs account
- Meet our Risk Acceptance Criteria
- Financing Household equipment and appliances
- Financing renewable energy items/Installation
- 40% equity contribution
- Insurance cover on items financed
- Product Delivery to your doorstep
- Digital assessments and disbursements of loans
- Max amount N2,500,000
- Minimum amount of N25,000
- For employees or Business owners
- Statements of account for the last six months
- 1-12 Months Tenor
- Meet our Risk Acceptance Criteria.
- Product shall be to finance core trading activities (Working Capital Finance)
- For Businesses up to 2years and above
- Either Overdraft or Term Loan
- For stock refinancing and import trade Financing, Clearing, and transportation of goods.
- Monthly Repayment of principal and interest
- Minimum of 1% of Principal amount as Compulsory savings monthly · Max loan amount N20 million · Meet our Risk Acceptance Criteria.
- Product shall be to finance core trading activities (Working Capital Finance)
- For Businesses up to 2years and above
- Either Overdraft or Term Loan
- For stock refinancing and import trade Financing, Clearing, and transportation of goods
- Monthly Repayment of principal and interest
- Minimum of 1% of Principal amount as Compulsory savings monthly
- Max loan amount N20 million
- Meet our Risk Acceptance Criteria
- Purchase of productive assets
- 30% Equity contribution in the account
- Confirmed proforma Invoice from Seller
- Insurance Cover on the financed assets against fire/ burglary and special peril
- Loan can cover your automobile Purchase need
- Borrow Up to 20 million
- 1-12 months Tenor
- Meet our Risk Acceptance Criteria
- Product is specifically designed to finance shop purchases
- Shop can be located in the Markets, Shopping Complexes or Streets
- Minimum 30% equity Contributions
- Fire and special perils Insurance cover
- Borrow up to N20 million
- Meet our Risk Acceptance Criteria
- Product will finance existing contracts or discount invoices of reputable institutions determined by the Bank
- Confirmation of Invoices
- 30% equity Contribution for LPO financing
- 70% Discounting of Invoice
- Domiciliation of payments with the Bank
- Goods in transit insurance for perishable goods · Max loan amount 20M · Max 90 days Tenor · Meet our Risk Acceptance Criteria
- This product is for economically active traders at the bottom of the pyramid in market clusters
- Loans are disbursed in groups but into individual member's accounts
- Repayment/ Collection of Principal and Interest is weekly electronically or by cash
- Maximum loan amount for each individual in the group is N500,000
- Group size from 5-10 persons
- Insurance of stock or goods against fire, burglary, and special perils.
- Cross guarantee from members
- Must meet our Risk Acceptance Criteria
- Salary advances to employees of private and public sector Institutions not under IPPIS.
- Maximum loan amount of N1million
- Cheques drawn against salary account or Direct Debit Mandate
- Proof of Employment (Employment Letter, ID Card, and Official e-mail confirmation)
- Provision of 3 months’ payslips/12 months bank statements
- Loans to Civil Servants under IPPIS platform
- Verification of employee status via IPPIS Numbers, payslip
- Last 6 months bank statements
- Insurance on job loss
- Max Loan amount N1 Million
- Loan for serving Corp member
- Account Must be domiciled with e-Barcs
- Loan repayment must be within the period of service
- Max of N100,000
- Any Corp member who has spent more than 2 months in service shall not qualify for the loan
- Portfolio size of N200 Million