- August 4, 2017
This is a product designed for private school owners (proprietors/proprietresses) who have their schools registered and approved by the state or federal government and\or local authorities. Facility is strictly meant for fixed or moveable assets and/or working capital needs which shall in turn be used to generate further income for the schools.
Features
- Interest Rate of 3% Monthly(Flat Rate)
- Loan Tenure of 1-2 years
- Amount accessible up to N10,000,000
- Risk Premium of 1%
Benefits
- Quarterly repayment
- Attractive interest rate
- Reduction in cash collateral in subsequent application
- Personalized service
- Enables schools/school owners purchase assets such as school buses, computers, generators, and laboratory equipment or carry out major and/or semi-major school projects.
- Prompt response upon application and completion of documentation, loan processing and delivery shall not exceed 3 working days after verification and confirmation of all documents
Requirements
- Must own a school
- 2 guarantors
- Opening of Account
- 20% cash collateral of the total amount
