Micro Business Loan

About Micro Business Loan Scheme

Micro Business Loan Scheme provide loans with no collateral to young business men and women. We partnering with Microfinance banks and MSME Agencies in Nigeria to offer loans to prospective participants. Interest FREE loans will be given to all YEN members and affiliate NGO’s.

LOANS CATEGORIES  

Available loan amounts of

Facility range: N10, 000 (minimum) to N300, 000 (maximum)

· Methodology: Individual

· Duration: months

  • N10,000
  • N20,000
  • N50,000
  • N100,000
  • From 100,000 and above you MUST be a member

Loan Terms

  • Loan Tenor: 1-12 Months
  • Weekly / Monthly payment
  • Administrative Fee
  • From 10,000 – 49,999 – 2,000
  • From 50,000 – 99,999 – 3,000
  • From 100,000 and above 5% of loan
    • File Opening
    • Verification of data submitted
    • Processing of loan
  • All loan categories attracts a nominal Interest rate of 5% with reducing balance
  • Non Member: 5%              
  • Members: 3%

What are the requirements?

  1. Applicants must be between the ages of  21 - 45 years
  2. Must be an entrepreneur or aspiring entrepreneur
  3. Must own a business or a business Initiative
  4. Must have a valid BVN
  5. Must have a bank account with GTBank
  6. Must have a valid Identification card (Voters card, National ID card, Driver’s license, International passport)
  7. Must provide two guarantors
  8. Must have a verifiable residential address ( Business location is optional)
  9. Must reside in Nigeria
  10. Loan application letter
  11. Duly completed application form
  12. Current utility bill
  13. 4 recent passport-size photographs

Benefits:

  • No collateral
  • Access to funds for business expansion
  • Access to other loan products
  • Flexible repayment structure
  • Training on basic financial management, business planning and customer relations
  • Low interest rate
  • Expert financial advice available

About Micro Business Loan Scheme

Micro Business Loan Scheme provide loans with no collateral to young business men and women. We partnering with Microfinance banks and MSME Agencies in Nigeria to offer loans to prospective participants. Interest FREE loans will be given to all YEN members and affiliate NGO’s.

LOANS CATEGORIES  

Available loan amounts of

Facility range: N10, 000 (minimum) to N300, 000 (maximum)

· Methodology: Individual

· Duration: months

  • N10,000
  • N20,000
  • N50,000
  • N100,000
  • From 100,000 and above you MUST be a member

Loan Terms

  • Loan Tenor: 1-12 Months
  • Weekly / Monthly payment
  • Administrative Fee
  • From 10,000 – 49,999 – 2,000
  • From 50,000 – 99,999 – 3,000
  • From 100,000 and above 5% of loan
    • File Opening
    • Verification of data submitted
    • Processing of loan
  • All loan categories attracts a nominal Interest rate of 5% with reducing balance
  • Non Member: 5%              
  • Members: 3%

What are the requirements?

  1. Applicants must be between the ages of  21 - 45 years
  2. Must be an entrepreneur or aspiring entrepreneur
  3. Must own a business or a business Initiative
  4. Must have a valid BVN
  5. Must have a bank account with GTBank
  6. Must have a valid Identification card (Voters card, National ID card, Driver’s license, International passport)
  7. Must provide two guarantors
  8. Must have a verifiable residential address ( Business location is optional)
  9. Must reside in Nigeria
  10. Loan application letter
  11. Duly completed application form
  12. Current utility bill
  13. 4 recent passport-size photographs

Benefits:

  • No collateral
  • Access to funds for business expansion
  • Access to other loan products
  • Flexible repayment structure
  • Training on basic financial management, business planning and customer relations
  • Low interest rate
  • Expert financial advice available


Micro Business Loan

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