The Asset Loan is designed to empower clients by facilitating the acquisition of income-generating assets, such as generators, refrigerators, grinding machines, and other essential equipment. These assets are intended to enhance the productivity and growth of their businesses, enabling them to achieve greater financial stability and operational efficiency.
Key Features:
- Loan Facility: Up to a maximum of ₦500,000.
- Methodology: Group-based lending structure.
- Loan Duration: Flexible repayment period ranging from 1 to 6 months.
- Grace Period: 1-month grace period before repayments commence.
- Repayment Plan: Monthly repayment schedule.
- Client Contribution: Clients are required to contribute 20% of the total asset cost as equity.
Summary:
This product is tailored to support small and medium-sized enterprises (SMEs) in acquiring the necessary tools and equipment to drive their business growth and profitability.
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