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How to easily Apply for Accion Microfinance Bank Loan in Nigeria – Accion Microfinance Bank has made it much simpler for business people in Nigeria to obtain a flexible repayment plan. if you are doing business in Nigeria.
PayGo Loan, My Own Loan, My Annuity Loan, My School Extra Loan, My Own Plus Loan, and SME Capital Loan are some of the loans for which you can now submit an application.
During the stage of evaluation and processing of your application for Accion MFB loans, you will be expected to disclose specific information regarding your company.
What are the prerequisites needed to apply for a loan?
1. You are required to have been in business for at least a year and to have been located at your current shop location for at least six months.
2. 2 passport photographs.
3. A valid form of identification, such as a driver’s license, an international passport, or a permanent voter card 4. BVN.
5. A minimum of six months’ worth of utility bills
6. A Guarantor (a business person or salary earner).
7. The use of collateral for small and medium-sized business loans.
8. A current account statement and post-dated checks for loans greater than 400 thousand dollars
Let’s take a look at the various loan packages offered by Accion MFB.
SME Capital Loan
This is a working capital and asset loan for small and medium-sized business owners, and it comes with a monthly repayment plan and a competitive interest rate.
The good news is that clients who pay their bills on time have a greater chance of qualifying for a higher loan rate.
This means that once your payments are on time, you will be considered an “A” customer.
Apply For Specta Loan: High-Interest Emergency Loan from Sterling Bank | www.myspecta.com
Requirements
1. Provide evidence that you own a business and have up to two years of experience in the industry
2. The need to open an account 3. The existence of a viable business
4. Guarantor
5. And any other document that Accion MfB might require from you at some point in the future
Please be aware that if you have never had an account with them before, you may be required to open a savings account with them.
Read on for more information about Sterling Bank, including how to transfer money and check account balances.
Personal Credit Plus Loan
My Own Extra is designed for existing customers who are in need of immediate funds to either expand their business or continue their day-to-day operations. Before you are eligible to apply for it, you are required to have a positive history of outstanding transactions with the bank.
You may be eligible for a lower interest rate on this type of loan if you have not defaulted on previous loans and have been a high-performing client. In addition, you may be eligible for a larger loan amount and faster processing time for your loan.
Requirements
Documentation demonstrating ownership of the company and relevant work experience is required, as is the provision of a viable business guarantor, in addition to any other paperwork that Accion MfB may request.
My Additional Student Loan Needs
This kind of loan is designed for private school proprietors who are in need of financial assistance in order to keep their schools operational on a day-to-day basis.
It provides you with a Quarterly repayment plan in addition to a Competitive interest rate, both of which enable you to expand your school with ease in terms of financing.
Requirements
1. Opening an account and providing the required documentation is mandatory.
2. Documentation demonstrating the ownership of and presence at the school 3. Documentation demonstrating the financial stability of the business
4. Documentation that the student has attended school for at least one year
5. The institution must be willing to establish a commercial relationship with Accion MfB.
PayGo Loan
This type of loan is designed for businesses that provide fast-moving consumer goods and services (FMCG) and require a quick loan in order to maintain a high rate of sales turnover. it comes with Interest that is only applicable to the amount of the approved loan limit that has been accessed.
Requirements
1. Provide evidence that you own and operate a business.
2. The air conditioning opening and the required documentation are mandatory.
3. A profitable company
4. MSM Business Owners with at Least a Year of Experience
The Loan on My Annuity
Pensioners who are in need of loans for working capital to assist them in post-retirement businesses are the target audience for this particular variety of loans.
The advantageous aspects of this loan are that it requires no collateral, that it has a flexible repayment plan, and that it is affordable and convenient.
Requirements
1. Requires one to be retired and receiving a regular pension payment
2. The client needs to have a monthly income of at least N16,000.00
3. Satisfy all requirements imposed by Accion MfB in regard to the documentation and information
4. The client must give PFA permission to deposit a monthly annuity into the client’s account held at Accion.
5. The client’s monthly annuity payments are used to cover the repayment of the loan.
My Own Loan
The owners of businesses that are in need of additional funding in order to expand should consider applying for this type of loan. It features a Straightforward Loan Application Process and a Rapid Turnaround Time.
Requirements
1. Provide evidence that you own a business and have experience in the field
2. The requirement of an air conditioning opening 3. A viable business
4. Guarantor
5. And any other document that Accion MfB might require from you at some point in the future
You can visit the website of Accion Microfinance bank for more information on the procedure and process of their loans.