This is a business loan facility targeted at account holders such as individuals, corporate bodies, and enterprises to support activities.

Eligibility Criteria

Individual 

The applicant shall satisfy the following condition (where applicable )

• Shall be 18 years and above with sound mind
• Shall be a customer of the bank for at least six(6) months with good turnover
• Must have a viable venture and the business  must be within the operation area of the bank

Group/Association/Corporate /Institutions 

1. Must be a customer of the bank
2. Must have active viable business /Form
3. Must have registered with the appropriate Authorities. (eg District Assemble, Registrar General Department, etc)

Documentation 

The under listed basic information shall be placed on the credit file of every beneficiary of the bank’s Trading/Commercial Loan

1. Application letter(printed)
2. Resolution duly signed by the concerned persons (in the case of groups /associations / corporate loans)
3. Guarantor’s form duly signed by both the guarantor and the applicant
4. A valid national ID &Tin certificate (Passport/ Driver’s license/Voter’s ID/NIA card/SSNIT card) of both the applicant and guarantor
5. An offer and acceptance letter (letter of Notification )

Duration of Loan

• Trending /Commercial Loan maximum duration not exceed 10 months
• Commercial Loan maximum duration not exceeding  24 months

Security/Collateral 

• Cash lien of not less than 10% of the amount requested and 2 personal guarantors.
• Building with proper documents
• Vehicles (original document be deposited at the bank during the Facility period )
• And  any other security that may be deemed fit