These are the commercial loan to micro-enterprise/small business. The loan under this category shall be appraised and sanctioned against satisfactory cash flow, income, collateral & guarantee based on the following product features;

  1. Eligibility: Any individual with valid Trade Business License;
  2. Purpose:
  1. Partial financing for a business or purchase of a business;
  2. Expansion of a business such as:
    1. Purchase of equipment;
    2. Expansion of working facilities;
    3. Modernizing a plant;
  3. Overdraft Facilities/Business Loan; and
  4. Setting up of new business ventures.
  1. Rate of Interest: As determined form time to time based on institution’s cost of fund and regulatory norms.
  2. Tenor: Maximum of five years.
  3. Quantum: Maximum of Nu.500,000.00 (five hundred thousand only).