Frequently Asked Questions
What types of loans do you offer?
We provide a diverse range of loan products customized to suit various business requirements. These offerings differ in terms of loan amount, duration, and repayment schedule. Our loans start from a minimum amount of NGN 50,000 and can be structured with maturities ranging between 1 to 9months. Repayment options are flexible, allowing for daily, weekly, or monthly schedules, depending on the preferences and needs of our clients
How long does it take for a loan application to be processed?
The processing time for a loan application ranges between 1 and 5 business days, provided we have received all necessary supporting documents
Do you need a guarantor
Yes, at least one guarantor is required.
What documents do I need to provide for a loan application?
The common documents include proof of identity, proof of business, bank statements, and sometimes additional documents such as business registration certificates or property documents
What is the procedure for loan disbursement?
Once your loan application is approved, the disbursement process typically involves signing the loan agreement and providing any required documentation. Funds are then disbursed through online transfer into your bank account.
What happens if I miss a loan repayment?
If you miss a loan repayment, it's important to communicate with us as soon as possible. Depending on the terms of your loan agreement, there may be late fees or penalties, and missing payments could affect your credit score.
What are the requirements for applying for a loan?
Our requirements typically include proof of identity (such as a valid ID card or passport), proof of business and proof of address.
What is the interest rate for your loans?
Our interest rates vary depending on factors such as the type of loan. However, we offer competitive rates that are transparent and fair.
Do you require collateral for loan approval?
Yes, we take soft collateral such as household goods, fixed asset, stock and vehicles. Note: these collaterals will still remain in custody of the client.
Is there a maximum loan amount that can be borrowed?
Yes, we do have maximum loan limits based on various factors such as income, credit history, and the type of loan. Our loan officers will assess your eligibility and provide information on the maximum amount you can borrow
Are there hidden fees associated with your loans?
We believe in transparency and we disclose all applicable fees upfront. While there may be certain fees associated with our loans, such as administrative fees or late payment fees, we will clearly outline these in your loan agreement so there are no surprises.
What are the repayment terms for your loans?
Our repayment terms are flexible and can be customized to suit your financial situation. We offer various repayment options, including daily, weekly or monthly installments, with terms ranging from 1 to 9 months.
Do you offer any financial education or counseling services to borrowers?
Yes, we understand the importance of financial literacy and are committed to supporting our customers in making informed financial decisions. We offer financial education resources, workshops, and counseling services to help borrowers manage their finances effectively and achieve their goals.
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Still Need Help?
Our customer support team is available 24/7 to help.