This is a product tailored towards bridging the finance gap often experienced in Universities and other Higher Institutions of learning pending receipt of their subvention or grants, to facilitate the completion process of capital projects.

Features:

• It is limited to Institutions owned by Federal or State Governments
• It is an overdraft credit facility which allows immediate access to cash
• You can borrow a maximum of 70% or 100 Million Naira
• A Short term facility and repayable within 180 days
• Negotiable and competitive interest rate.
• Easy and simple to operate

Requirements:

• Institution must operate a Wema Bank Account
• Subvention or grant must be domiciled with Wema Bank
• Application letter signed by key officers
• HIFA form duly completed, signed and stamped by key officers