Pharma Loan
This facility is targeted at supporting pharmacy store owners with working capital. Customers can get up to N5m without collateral.
Available to all licensed retail pharmacies.
Must have been in business for a year or more.
Minimum loan amount N100,000. Maximum loan amount N5,000,000
Open to new customers.
Maximum tenor is 12 months
Competitive interest rate
Access to mobile & internet banking services
Customer’s application letter
Certificate of Incorporation/Registration
12 months bank statement
Copy of current practice license of the Pharmacist
Copy of certificate of retention of premises
Personal Guaranty of the Promoter/Obligor supported with sworn affidavit of statement of net worth
Insurance covering burglary and special peril noting Wema Bank as first loss payee
Medi Loan
Wema Medi Loan was designed to meet short term working capital needs of private hospitals, clinics and diagnostic laboratories. Customers can get up to N5m to meet the operational needs of their medical business.
Available to all licensed private hospitals, clinics and diagnostic centres.
Minimum loan amount N100,000. Maximum loan amount N5,000,000
Open to new to bank customers.
Maximum tenor is 12 months
Competitive interest rate
Access to mobile & internet banking services
Customer’s application letter
Certificate of Incorporation/Registration
12 months bank statement
Copy of current practice license of the Doctor or Medical Lab Scientist as issued by the Medical & Dental Council of Nigeria or Medical Laboratory Council of Nigeria.
Personal Guaranty of the Promoter/Obligor supported with sworn affidavit of statement of net worth
Insurance covering burglary and special peril noting Wema Bank as first loss payee
School Support Facility
This loan facility is to support education. Privately owned schools can get up to N10,000,000 to meet the school’s recurrent expenditure.
Available to privately owned creches, nursery, primary, secondary and vocational schools
Minimum of N3,000,000 annual fees collections
School must have operated for at least 2 academic sessions
Minimum loan amount N200,000. Maximum N10,000,000
Maximum tenor is 12 months
Competitive interest rate
Access to mobile & internet services
Termly or monthly repayment
Open to new customers
Customer’s application letter
Copy of certificate showing approval and registration with appropriate regulatory authority
Copy of Certificate of Incorporation/Registration
12 months bank statement
Proof of address
Personal Guaranty of the Promoter/Obligor supported with sworn affidavit of statement of net worth
Insurance covering burglary and special peril noting Wema Bank as first loss payee
Development Bank of Nigeria (DBN) Facility
As an SME-friendly Bank, we have partnered with DBN to provide funding to SMEs at a very affordable rate and engender inclusive growth.
The product finances working capital and fixed asset acquisition.
SMEs can access up to N200m and Small Corporates can get up to N720m
Up to 5 years maximum tenor
Competitive interest rate
Customer’s application letter
Business Plan and Company Profile
12 months bank statement
Provision of acceptable collateral
Proof of Address
Copies of Incorporation documents
Details of the Directors/Promoters of the business.