This loan targets established enterprises. The client needs to have a permanent business place. The business should have all the registration documents and should be legal.

Interest Rate: 6%

Loan Duration: 3 to 12 months

Requirements for business loans

• Business certificates
• Be in existence for more than 5 months.
• Bank statement for three months
• Business records
• Guarantor
• Pledged collaterals.
• Business premise and home premise verification

Collateral for business loans?
Customers for business loans are required to provide collateral for the loans accessed. The collateral pledged must cover the loan amount in full and may be in form of:

• Vehicle
• Land/house with title deed
• Household chattels e.g.

• fridge, cooker, TV set, and sofa set.