Designed to boost the working capital of an existing business in order to aid its growth.
- Available to business owners that operate a business current account
- Facility amount starts from N100,000 to a maximum of N1 million
- Amount loanable is 80% of six-month average credit turnover in business account
- Facility tenor is between 3 to 12 months and renewable after clean-up
- Minimal or no collateral is required for the advance
- Easy access to working capital for business growth
- Minimal or no collateral required
- Flexible loan repayment tied to cash flow.
- Competitive interest rate
- Access to all electronic products of the bank
- Completed loan Application Form.
- Two passport photographs
- Company profile
- Executed Personal and/or Corporate Guarantee form by an acceptable Guarantor
- Statement of net-worth-duly completed by the Guarantor
- At least three (3) months bank account statement from Wema Bank and three (3) months from previous/other bank(s)
> Other banks’ statement must be on letter head and signed by the bank official with stamps
- Residential Utility bill and Customer Visitation form for borrower and guarantor.
- Business Utility bill and Customer Visitation form for borrower and guarantor.
- Business Questionnaire form (To be completed by the Relationship manger/ officer
- Customer should provide a guarantor who will submit undated cheque covering the value of the loan
- Customer to submit undated cheque covering the loan valve (where necessary)