Olamide Famuwagun

Credit Direct Loan – Everything you need to know

December 7, 2022 by Olamide Famuwagun

Taking out a Credit Direct loan is very easy. Basically, the company, Credit Direct, has made the loan application process online, making it easy to obtain soft loans for your needs. The subsequent paragraphs will guide you on how to seamlessly access this loan.

An Overview of Credit Direct

Credit Direct Limited is one of Nigeria’s leading financial services companies that has its headquarters in Lagos, Nigeria. Basically, they offer friendly and affordable online loan services and a range of investment products to the public. The flexible repayment option they offer to their customers makes their loans attractive to the everyday Nigerian. This company is known for pioneering the unsecured micro-lending territory in Nigeria

What are the types of Credit Direct Loan?

Basically, this company offers four loan products to the public. These products include:

1. Sharp Sharp Loans

These loans are solely for Federal, State as well as Local government workers. Usually, the loan will be disbursed within 24 hours after you submit your complete documentation. Sharp sharp loan tenors range from about 1 to 12 months. You can quickly access them using the sharp sharp loan code.

What documents do I need to obtain a Sharp Sharp Loan?

Here are the documents you need to take out a sharp sharp loan:

Completed Loan Agreement Form
Letter of Introduction & Employment or a Confirmation letter.
Attached passport photo
Guarantor Submissions, Your Proof of residence and earnings, and Post Dated Cheques.
Work ID (for salaried people only) & Bank Statements or your Pay Slips.
Valid Means of Identification – National ID, Driver’s ID, or International passport.

Interesting Read: Loan Monitoring – Everything you need to know

2. Cash to Go Loans

The Cash to Go loans are only for salaried workers and the disbursement is also within 24hrs after you submit complete documentation. Also, Loan tenors for Cash to Go loans range from about 1 to 12 months.

What documents do I need to obtain Cash to Go Loans?

You will need these documents to obtain the Cash to Go loans:

1 Passport Picture.
Your Staff Identity Card.
Employment Letter and your last Salary Review Letter.
Valid means of ID
Your 3 months duly stamped bank statement (must be up to date)
Pension Statement(For holders of current account).
Post-Dated Cheques Covering Your Loan Tenor.
BVN (Bank Verification Number).
Signed and duly updated Direct Debit Mandate.

3. Quick Asset Finance

Basically, this product offers you a loan to finance income-generating assets (such as grinding machines) white goods, as well as any household equipment. only. The loan tenors available for this product are 3, 6, 9 and 12 months.

What documents do I need to obtain Quick Asset Finance?

You will need these documents to access Quick Asset Finance:

Completed Loan Agreement Form
Letter of Introduction.
Attach your passport photo to your loan agreement form
Appointment letter.
Staff ID card and any other Valid ID.
Confirmation letter.
3 months consecutive payslip and your bank statement.
CDL Introduction Letter.

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4. Empower the Corp Loans

Credit Direct in partnership with NYSC designed this loan product to cover the financial needs of Corps Members. Hence, this product is only for youth corps members.

What documents do I need to obtain Empower the Corp Loans?

You will need these documents to take out the Empower the Corp Loans:

Photo of your NYSC Identity card.
A Photo of an attestation letter from SAED.
Photo of the Corps member wearing the full NYSC regalia.
Clear picture of the Corps member’s face.
A photo of the valid ATM card of corps members’ official NYSC account.
Photo of the completed letter of an undertaking which is clearly signed and also dated by the corps member.

How can I apply for a Credit Direct Loan?

Here are the few steps to take if you want to apply for a Credit Direct loan:

1. First, follow this quick link to take you to the direct loan registration page https://www.creditdirect.ng/apply-loans-in-nigeria-emergency-loans/

2. Next, enter your details in the online loan application form.

3. Thereafter, click on “Apply Now” and wait for them to verify your basic details and reach out to you.

Alternatively, if you want to apply for a specific kind of loan, just open the menu and go to loans, then tap on the kind of loan you want to apply for and apply.

How can I contact Credit Direct?

You can reach out to Credit Direct via:

Address: 48/50 Isaac John Street, GRA, Ikeja, Lagos, Nigeria.

Phone Number: 0700CREDITDIRECT, 01-4482225

Email Address: contact@creditdirect.ng

Website: www.creditdirect.ng

Bottom Line

Credit Direct loans are very easy to access by anybody that meets the eligibility requirements. Also, their flexible repayment tenor gives customers peace of mind and enough time to repay back the loan. If you need funds to settle your financial demands, you can certainly try out the loan products on this platform.

Do you need a loan? Be sure to visit this loan platform that allows you to compare loans from different lenders in minutes. It offers the best and ensures that you get nothing less.

NairaBox Loan – Instant access to affordable loans

December 6, 2022 by Olamide Famuwagun

The NairaBox platform has made it pretty easy to take out quick, affordable, and collateral-free loans. Hence, with this credit platform, you can meet all your financial emergencies in no time. Here’s a quick review of the NairaBox Loan platform and how you can get loans on it.

An Overview of NairaBox

Similarly to Credit Direct Loan, NairaBox is a Nigerian online loan platform that offers timely and very affordable loans to meet the needs of Nigerians. Basically, this credit platform’s mission is to boost the financial condition of the ordinary Nigerian. Hence, no matter what your need or goal is, you can access fast personal loans on NairaBox. This will serve as a solution to your financial problems.

How can I apply for NairaBox loans?

To apply for instant loans on NairaBox, do this:

1. Download the NairaBox app from Google Play Store

2. Next, install it and fill out the registration form. You will need to enter your basic details like name, address, email, address, etc

3. After you have completed the last step successfully, you can apply for loans on the app.

4. Give them a moment to verify your loan eligibility. If you are eligible for a NairaBox loan, you will receive the amount that you applied for within a few minutes.

What is the maximum and minimum amount of loan on NairaBox?

NairaBox provides you with a minimum loan amount of ₦10,000 and a maximum amount of ₦300,000. The annual interest rate ranges from 28.5% to 146%. This is one of the lowest among all loan apps.

Interesting Read: To U Loan App – How to borrow money from To U Loan app

What are the eligibility criteria to apply for a loan on NairaBox?

Here is a list of the NairaBox eligibility criteria:

1. You must be a Nigerian who currently lives in Nigeria

2. The age limit is 20 years old. Hence, you must be over 20 years old

3. You must have a stable job and a good credit score.

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What is the loan duration?

Basically, NairaBox gives you a loan duration of 91 to 365 days. You can reimburse your loan within this period to avoid penalties.

How can I download the NairaBox Loan app?

If you want to download NairaBox, simply follow these steps:

1. Open the Google Play Store app on your Android phone.

2. Next, search for “NairaBox” app

3. Lastly, download the app and install it to access fast loans.

Note that the Kissht App is the official mobile platform for NairaBox loans. Also, this app is only available on the Google Play Store. Hence, you need an android phone to access it.

How can I contact NairaBox?

Here’s how to contact NairaBox:

Website: www.nairaboxn.com

Email Address: service@nairaboxn.com

Closing Thoughts

Based on reviews, the NairaBox platform seems legit and you can certainly give them a try. However, before collecting any loan on this platform, ensure that you map out a plan to repay it in order to avoid facing any penalty. Don’t get too carried away and forget to pay back what you borrowed.

Do you need a loan? Be sure to visit this loan platform that allows you to compare loans from different lenders in minutes. It offers the best and ensures that you get nothing less.

Lapo Agric Loan – Everything you need to know

December 3, 2022 by Olamide Famuwagun

Agriculture is one of the major pillars of the Nigerian economy, hence, it is imperative to focus on it. Fortunately, Lapo Microfinance Bank has provided a way to empower farmers in Nigeria through their Lapo Agric Loan product. Read further to learn more details about this loan product and how to obtain it without any hassle.

An Overview of Lapo Microfinance Bank

LAPO Microfinance Bank is a financial institution that offers a wide range of products to meet your financial needs. Basically, their products are meant to assist micro, small and medium businesses, as well as members of low-income homes with the funds they need. Currently, this institution boasts a wide network of more than 500 branches all over Nigeria.

What is Lapo Agric Loan?

The Lapo Agric Loan also known as Lapo agricultural financing is a loan product that was specially designed to assist farmers to achieve bigger and better results via the provision of adequate agricultural loans.

How can I apply for the Lapo Agric Loan?

To apply for an agric loan for farmers from this institution, do this:

1. Compile all the documents you will need for the loan application process. Check the information below to see a list of the documents you need.

2. Next, visit the nearest Lapo branch office close to you and request the agric loan form.

3. Thereafter, complete the form by providing your basic details.

Lastly, attach the necessary documents to the form you have duly completed, then submit it. Wait for them to contact you after this process.

What is the maximum and minimum amount of Lapo Agric Loan I can obtain?

Basically, the agric loan grants you a loan amount that is between ₦30,000- ₦1,000,000. Hence, you can obtain a minimum amount of N30,000 and a maximum amount of N1,000,000.

Interesting Read: Government Programmes For Agric Loans In Nigeria

What is the loan tenor?

For this loan product, Lapo gives you a loan tenor between 1-12 months. Also, you get a repayment grace period of 30-60 days.

Get a loan up to N100,000 at the best affordable rates in Nigeria

What are the eligibility criteria?

To be able to access an agricultural loan from Lapo, you must be an active and practising farmer with farm investments. Not that your farm investments must be verifiable.

What documents do I need to obtain the Lapo Agric Loan?

To obtain an agricultural loan from this institution, you need the following important documents:

1. Accurately completed application form

2. Recent passport-size photographs (2)

3. Current utility bill

4. 2 guarantors

5. A valid means of ID (You can use your national ID, voter’s card, driver’s license, or even your international passport)

How can I contact Lapo Microfinance Bank?

Here’s how to contact Lapo Microfinance Bank:

Head Office: LAPO Place, 15A Ikorodu-Ososun Road, Lagos State.

Annex Office: 18, Dawson Road, Benin City, Edo State.

Phone Number: +(234) 813 984 0230

WhatsApp: 081 5055 3264

Email Address: info@lapo-nigeria.org

Website: www.Lapo-nigeria.org

Final Thoughts

Lapo Agric Loan is one of the products Lapo Microfinance bank offers farmers in Nigeria. If you are a farmer who needs a quick loan, this is definitely a product you should try. However, make sure you reimburse the loan on or before the due date to avoid facing default penalties.

Do you need a loan? Be sure to visit this loan platform that allows you to compare loans from different lenders in minutes. It offers the best and ensures that you get nothing less.

NECAS Loan – How to obtain a loan from NECAS

December 2, 2022 by Olamide Famuwagun

The Northern region is well known to spearhead agricultural activities in Nigeria. Hence, the Federal Government of Nigeria has capitalized on this and provided a scheme to empower this region. The NECAS loan scheme is an initiative of the Federal Government/CBN that aims to empower farmers in the North-East region of Nigeria.

An Overview of NECAS

Just like the AGSMEIS Loan, North East Commodity Association, short for NECAS, is a Federal Government/CBN loan scheme for farmers. Basically, this initiative was incorporated in Nigeria to provide loans and other farming services to farmers in the North-East region of Nigeria.

They provide Tractor Leasing as well as Mechanization services for farmers and other services. The major goal of this programme is to increase the farming output of farmers in the North-East region of Nigeria. To do this they plan to mechanize all farming activities to make the work easier and faster, thereby increasing crop production.

How can I apply for the NECAS Loan?

To apply for a farmers loan from NECAS and access other benefits, just do this:

1. Join the NECAS group around you. Note that you must be a farmer residing in the NorthEast region of Nigeria.

2. Next, become an active member by participating in all the activities in the group and attending meetings.

3. Lastly, wait until it is time to access loans. Once the loan is accessible, your group will inform you and you can apply for yours.

This loan scheme largely bears resemblance to the NG Cares Loan.

Must Read: Lapo Agric Loan – Everything You Need To Know

What are the eligibility requirements to obtain a NECAS loan?

To take out a loan from the NECAS initiative, you have to meet these criteria:

1. You must be a farmer residing in the NorthEast region of Nigeria.

2. Be an active member of the NECAS group

There are other requirements that may be set up by the group you belong to. Just make sure that you meet them so that you can apply for a loan when the Federal Government is ready to give out loans to your group.

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What documents do I need to apply for the NECAS loan?

To join the NECAS group and apply for loans, you need your basic details like your name, phone number, address, email address, etc. Also, you will need a Valid Means of Identification and BVN to verify that your details are correct.

Interesting Read: How To Get Loans For Farmers In Nigeria (2022)

How can I contact NECAS?

You can contact NECAS via any of these ways:

Address: No 12 Bekaji Road Opposite Bekaji Primary School, Jimeta Yola, Adamawa State

Phone Number: 080-NECAS

Email Address: info@necas.com.ng

Website: www.necas.com.ng

Closing Thoughts

NECAS loan is a Federal Government/CBN loan initiative that is strictly for farmers in the North-East region of Nigeria. Therefore, only people who are farmers and residing in this region can access this loan. Also, this scheme provides machinery to make farming easier and faster, thereby increasing output. Essentially, this programme is extremely beneficial because it empowers farmers in the North-East region of Nigeria.

Do you need a loan? Be sure to visit this loan platform that allows you to compare loans from different lenders in minutes. It offers the best and ensures that you get nothing less.

NG Cares Loan – How to apply for a business loan in 3 steps

November 30, 2022 by Olamide Famuwagun

If you own a business that needs money for its operations, apply for the NG Cares Loan package. The paragraphs below will teach you all you need to know about NG Cares and guide you on how you can apply for their loan package.

An Overview of NG Cares

Basically, NG Cares is a federal scheme that aims to help Nigerians who were affected by the Corona pandemic in 2020. National Covid-19 Action Recovery & Economic Stimulus, short for NG Cares, gives relief funds to businesses to help them grow.

The Federal Government initiated this scheme as a response to the terrible hardship that the COVID-19 pandemic caused. Also, it is a part of the vision the Federal Government has for Nigeria. They aim to lift at least 100 million Nigerian citizens out of poverty within a duration of ten years.

What are the eligibility requirements to obtain a loan from NG Cares?

Just like NECAS Loan, the scheme has some expectations from all businesses that will be a beneficiary. They include:

1. Micro Businesses

Any micro business that wishes to benefit from this loan scheme, must have a minimum number of three employees. Basically, your number of employees must be between the ranges of 3-9.

2. Small Businesses

As for small-scale businesses that wish to benefit from NG CARES, they must have a minimum number of 10 employees. Their employee number should be between ten to fifty (10–50).

What documents do I require to apply for an NG Cares loan?

The documents businesses require to apply for this Federal Government loan initiative include:

1. BVN printout (Your bank must stamp this for verification)

2. Proof of Business Operations such as your bank statement of account, Cash book, etc

3. Business CAC registration or TIN

4. Valid Means of Identification (Driver’s license, Voters Card, or your NIN)

5. Evidence of your accurate age (You can either use your NIN, Voters Card, or Driver’s license)

6. Means to confirm your residence (Voter’s card or a recent utility bill).

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How can I apply for the NG Cares Loan?

To apply for this Federal government loan scheme, follow these steps:

1. First, visit the link, https://www.ngcaresbusiness.org/

2. Next, select the state your business is located, then click on “Go To Portal”

3. Wait for the platform to take you to the official loan portal for the state you input. After you register, the scheme will verify your eligibility. If you are successful, they will contact you.

Alternatively, you can apply through some of your community heads. The Federal government has given some application forms to the following people:

Agents of NG CARES.
Community CDC chairman.
Community youth president.
Community women leaders.

You can just meet any of them and pick up your loan application form if you choose not to go through the online registration process.

Don’t Miss: How To Apply For CBN Non-Interest Loan

How can I contact NG Cares?

You can contact NG Cares through any of these ways:

Address: No. 14 Mousa Crescent, Off Thomas Sankara Street, Asokoro, Abuja, Federal Capital Territory, Nigeria

Website: www.ngcares.gov.ng

Phone Number: +234 701 453 4703

Email Address: info@ngcares.gov.ng

Bottom Line

The NG Cares loan initiative is a loan package that the Federal Government has provided for businesses that the pandemic affected. To apply for this loan package, simply follow the easy steps above. This loan initiative is a welcomed one and a clear sign that the Nigerian Government cares about its citizens.

Do you need a loan? Be sure to visit this loan platform that allows you to compare loans from different lenders in minutes. It offers the best and ensures that you get nothing less.

GEEP Loan – How to Apply for a GEEP Loan

November 26, 2022 by Olamide Famuwagun

Struggling entrepreneur or everyday Nigerian hustler, listen up!

The Government Enterprise & Empowerment Programme (GEEP) might just be your savior.

Launched in 2016, this government-backed program offers interest-free, collateral-free loans specifically designed to help micro, small, and medium-sized businesses (MSMEs) like yours thrive!

Now, let’s dive into how the GEEP loan can empower your Nigerian entrepreneurial journey!

GEEP Loan - How to Apply for a GEEP Loan

Types of GEEP Loan

To help grow businesses, the GEEP funding scheme is divided into 3 categories. They include:

1. Trader Moni

This category is for small business owners who need money to expand their businesses.

Fruit sellers and small-scale shop owners can apply for the Trader Moni loan.

2. Farmer Moni

Business owners that need loans under this category have to first register with the CAC (Corporate Affairs Commission).

3. Market Moni

This category is solely for agro-based business owners. Agri-business owners who require money to expand their businesses can apply for the Market Moni category.

How to Apply for the GEEP Loan?

Here’s how you can apply for the GEEP loan:

1. Go to the official GEEP Registration Portal

2. Next, go to the GEEP Link (if the portal is open, you should see a link).

3. Thereafter, click the link and go through the guidelines carefully. Click on “Application” once you’re done with this.

4. When you are ready to apply physically, just go to the National Orientation Agency in the state you live in.

However, if a GEEP loan isn’t your cup of tea, then check out EaseMoni – A quick way to borrow instant loans.

Note: Customers are required to open an account with the Bank of Industry before application can commence. A customer identification number will be created at the end of the account opening process.

Documents for GEEP Account Opening

Schedule of the shareholders signed by the company secretary. (Shareholders Register) for new customers and a confirmation of earlier submissions for returning customers
Full Incorporation Documents:
- Photocopy of Certificate of Incorporation
- A certified true copy of Memorandum and Articles of Association
- Forms CAC 2.5 (Allotment of Shares)
- CAC 2.3 (Particulars of Directors)
- CAC 2.1 (Appointment of Company Secretary)
Means of identification of all Directors of the company (i.e., photocopy of International Passport/Driver’s License and National Identity Card) and BVN of the Executive Directors. (note that the ID of all Directors are needed for compliance and credit search)

Note: The loan application process will begin after the account is opened.

Maximum Loan Amount for a GEEP Loan

For the GEEP loan, the maximum loan amount you can apply for is N300,000.

On the other hand, you can apply for a minimum amount of N10,000.

These loans are primarily interest-free and do not require any collateral. Also, you can decide to collect either short-term or long-term loans.

If you own a small or medium-sized business, take advantage of this chance to apply for the GEEP loan.

Struggling to find the right loan? Compare offers from multiple lenders in minutes on this secure platform. Find the perfect fit for your financial needs.

Documents Needed to Obtain a GEEP Loan

Here are some important documents you’ll need:

1. BVN (See how to check your BVN)

2. Local govt of origin certificate

3. Passport photographs

4. CAC certificate for businesses eligible

5. A valid national ID

How can I contact GEEP?

Here are some ways you can reach GEEP loan:

Address: https://www.boi.ng/our-locations/

Phone Number: +(234) 7002255264

Website: www.growthplatform.me

Email Address: customercare@boi.ng

Conclusion

The GEEP loan is just what you need to kickstart your business.

This awesome scheme offers collateral and interest-free loans, so you can focus on what you do best – building your dream.

RIFAN Loan – How to get easy access to loans from RIFAN

November 24, 2022 by Olamide Famuwagun

Every Nigerian into large-scale farming is likely to need a loan at some point. Fortunately, the Nigerian government has created several opportunities for farmers to access farming loans. If you are a rice farmer who is in need of a loan, the RIFAN loan is readily available to all its members. Read further to learn how you can access this loan without stress.

An Overview of RIFAN (Rice Farmers Association of Nigeria)

RIFAN, short for Rice Farmers Association of Nigeria is a multinational advocate for all areas of the Nigerian rice industry. Basically, this body promotes Nigerian-grown rice in the international market, via various conferences, meetings and summits that hold across the world.

Also, they hold regular seminars to train members on different business opportunities and ways to cultivate a healthy rice farm. The association has been very successful in making a name for Nigerian-grown rice worldwide.

RIFAN’s major is to ensure that the production of Nigerian rice production satisfies its local demand. This demand is about 5 million tons of rice annually.

What services does RIFAN offer?

Basically, RIFAN offers the following services to all and sundry:

1. Grain Management & Storage

Collectively, RIFAN boasts of more than 10,000 active members. These members help to store and manage tons of rice grains all over Nigeria. This makes RIFAN in charge of rice storage and management in Nigeria.

2. Rice Trading & Marketing

More than 1 million members of RIFAN are also involved in the marketing and trading of rice. Basically, this makes the body a leader in the harvesting and selling of rice and other associated products.

3. Rice Milling

With over 20 years of experience, some of RIFAN’s members are involved in rice milling. Their milling methods involve the use of state-of-the-art heavy mill technologies.

Get a loan up to N100,000 at the best affordable rates in Nigeria

4. Equipment Leasing

RIFAN offers its partners both long-term and short-term equipment leasing alternatives. Basically, the leasing equipment varies from brand new to fairly used equipment.

5. Lending & Financial Services

RIFAN offers its active members a robust and economical finance system, that provides them access to easy and convenient loans for rice farming. This service is transparently administered and very accurate.

6. Research & Training

RIFAN administers research that aims to boost rice farmers’ productivity. Also, this research helps to discover and cultivate a better environment for the growth of farm produce. Also, RIFAN assists agricultural companies to train their farmers in the latest agro technologies on how to grow rice and any other grains.

Interesting Read: How To Be Rich Through Loans

How can I register and obtain a RIFAN loan?

To register on the RIFAN platform and obtain a RIFAN loan for your business, do this:

1. Visit the official RIFAN website, www.rifanonline.com

2. Next, open the menu and touch “Register”

3. Thereafter, sign up on the platform by entering accurate details of yourself. This includes your full name, email address, as well as your phone number. Also, you will need to pay a token for your registration fee.

Once you register with the platform successfully, they will notify you when it is time to give loans to farmers.

How can I contact RIFAN?

To contact RIFAN, follow this link https://rifanonline.com/contact/. Enter your name, Email address, and your enquiry message. Then submit it. Also, you can reach out to RIFAN on their web platform, www.rifanonline.com.

Bottom Line

RIFAN loan is a loan that the Rice Farmers Association of Nigeria offers its members to enable them to fund their farm work. To get access to this loan, you must be one of their members and actively participate in their activities. The information above outlines all you should know about RIFAN and how to contact them.

Do you need a loan? Be sure to visit this loan platform that allows you to compare loans from different lenders in minutes. It offers the best and ensures that you get nothing less.

AGSMEIS Loan – How to apply for it in 3 steps

November 22, 2022 by Olamide Famuwagun

Are you into the business of agriculture or want to start a small/medium business? If yes, you can get a quick AGSMEIS Loan to establish yourself and spread your payments. Below are the details of AGSMEIS and how you can access their loan in no time.

An Overview of AGSMEIS

The NIRSAL AGSMEIS loan is a funding programme of both the Central Bank of Nigeria (CBN) and the Nigerian Microfinance Bank to give loans to the public at a low-interest rate. Basically, this loan serves as financial assistance during a pandemic.

Basically, the AGSMEIS (Agri-Business/Small and Medium Enterprise Investment Scheme) is an enterprise built to assist the Federal Government’s actions and policy regulations for the growth of agricultural businesses and even small/medium businesses. As a business owner, you can obtain a quick and collateral-free loan from this programme to grow your business.

What are the documents I need to obtain the AGSMEIS loan?

Here is a list of the important documents you need to take out this loan:

1. Duly completed AGSMEIS loan application form.

2. Bank Verification Number (BVN).

3. Certificate of Training from any authorized Entrepreneurship Development Institution (EDI) or proof of membership in standardized private sector

4. Recommendation letter from either your Priest, district chief, village head, or orthodox ruler. This document is for senior civil servants, etc. (for individuals/small businesses only)

5. Proof of your business name registration or organization registration certificate and yearly filing (if applicable) as needed by the standard Company and Affiliate Act (1990).

6. Your Tax Identification Number (TIN) and your current withholding certificate (if it’s applicable).

Note that to qualify for the AGSMEIS loan, you must have completed your training from any NIRSAL-certified Enterprise Development Institute. Thereafter, you can complete the necessary form. Your training institute will send this form to the CBN. Thereafter, CBN will request that your bank verifies your account details and still assess you.

Get a loan up to N100,000 at the best affordable rates in Nigeria

What businesses are eligible to obtain this loan?

Here is a list of the different businesses that are eligible for this loan:

1. Creative & Art Industries

2. Fashion, Beauty

3. Industrial & Manufacturing

4. Agriculture & Allied Processing

5. Apparel & Textile

6. Arts & Entertainment

7. Information & Communication Technology

8. Automobiles

9. Telecommunication

10. Hospitality

11. Media & Publishing

12. Catering & Event Management

How can I apply for an AGSMEIS loan?

If you are into any of the business fields listed above, you can apply by following these straightforward instructions:

1. First, you have to attend mandatory training with any NIRSAL MFB-authorized Entrepreneurship Development Institute (EDI). Basically, this makes you eligible to take out the loan

2. Next, create a personal account. To do this, simply visit the AGSMEIS official website, www.agsmeisapp.nfmb.com.ng then tap on ‘Apply Now’ and start your registration as an applicant. You have to verify your BVN and choose your NIRSAL MFB-authorized Entrepreneurship Development Institute (EDI).

3. Therefore, you have to wait to get feedback from them. If you qualify for the loan, you will receive the money in your account. However, if you don’t qualify for the loan, wait for the platform to give you feedback

Alternatively, you can go to any of the NMFB-authorized EDIs to guide you on how to go about the process.

What is the interest rate for this loan?

The interest rate for the AGSMEIS loan is presently at five per cent (5%) per year only. Hence, you get to pay back this interest together with your loan amount per annum.

AGSMEIS Loan Approval

Checking if AGSMEIS has approved your loan application is simple. After you apply for the loan, you will receive a text message that provides you with a direct link to the NMFB portal. Do this:

1. Simply follow this link, then select the kind of loan you applied for (personal or housing or SME).

2. Next, verify your account by inputting your BVN. Once you do this, a confirmation amount will show on the next page (if your loan application was approved)

3. Once the platform approves your loan, you will need to provide your bank account information for disbursement.

Below the page, you will see the terms of your loan and the details of the director in charge of your loan payments.

You can also read RexCredit – How to obtain a loan in 3 easy steps

How can I contact AGSMEIS?

You can contact AGSMEIS through any of these ways:

Address: House 1, Plot 103 /104, Monrovia Street, Wuse 2, Abuja

Email Address: info@nfmb.com.ng

Phone Number: +2347041800003

Website: www.agsmeisapp.nfmb.com.ng

Bottom Line

As a small or medium-scale business owner, you can take out an AGSMEIS loan to start or grow your business. If you meet the eligibility requirements, you can simply follow the steps above to apply for AGSMEIS funding and get it in no time.

You can obtain a comprehensive loan, tailored to your specific needs by using this platform. Basically, it allows you to compare loans from different lenders across Africa, ensuring the best option doesn’t slip through

TIES Loan – How to apply for TIES in 3 steps

November 15, 2022 by Olamide Famuwagun

The high unemployment rate has made it necessary for every Nigerian youth to seek self-employment. However, self-employment needs financing for it to operate smoothly. This is where loans come to play. With the TIES loan, every Nigerian graduate can secure instant loans to run their businesses.

An Overview of Tertiary Institutions Entrepreneurship Scheme (TIES)

Tertiary Institutions Entrepreneurship Scheme (TIES) is a scheme that offers both Nigerian graduates and undergraduates access to loans. The Central Bank of Nigeria (CBN) introduced the scheme in 2021 to help graduates and undergraduates who may need capital to start a business.

TIES aims to shift graduates and undergraduates away from pursuing white-collar jobs to embracing entrepreneurship for job creation and economic development.

How can I apply for the TIES Loan?

Here are the instructions to follow if you want to apply for it:

1. Follow this link to go directly to their web platform https://cbnties.com.ng

2. Next, tap “Apply Now”

3. Thereafter, input the right details in the registration form, validate your request, and submit it. You’ll wait for them to respond to you.

Get a loan up to N100,000 at the best affordable rates in Nigeria

Who is eligible for the TIES loan?

The Government will consider only people who have a Nigerian university or polytechnic degree. Also, they will prioritise innovative entrepreneurial activities that have high prospects for export, job creation, as well as transformational impact.

Interesting Read: How To Apply For CBN Non-Interest Loan

What businesses are eligible to apply for TIES?

The business activities that TIES covers include:

1. Agribusiness – harvesting, processing, storage as well as logistics

2. Information technology – software/application development, data management, robotics, business process outsourcing

3. Creative industry – entertainment, publishing, artwork, culinary/event management, photography, fashion, beauty/cosmetics

4. Science and technology – medical innovation,, ticketing systems, robotics, renewable energy, traffic systems, waste management

Hence, your business must belong to any of the groups above to be eligible for TIES as a graduate or undergraduate

What documents do I need to apply for TIES loan?

To apply for this timely loan, you require these important documents:

1. First-degree certificate (BSc or HND or any of its equivalent)

2. National Youth Service Certificate (NYSC) discharge certificate or exemption certificate

3. Certificate of Participation your polytechnics and universities issues showing proof of your entrepreneurship training

4. Your Statement of Income, Statement of Affairs, as well as cash flow projections for both start-ups and businesses with not more than 3 years of operations

5. Business plan delineating details, financials, as well as the economic advantages of the projects

Note: You must not be over 7 years post-NYSC.

What is the maximum amount I can access under the TIES?

Here is a least of the loan amounts you can access TIES based on your level:

1. Tier 1 (Individual projects): Your loan limit is N5Million with a tenor of only 5 years.

2. Tier 2 (Partnership / Company projects with at most 5 individual partners): Your loan limit is N25 million for a tenor of only 5 years.

What is the interest rate for TIES?

The interest rate for any graduate or undergraduate accessing the TIES is 5% from this moment to February 2023. However, it will increase to 9% from March 2023.

How can I contact TIES (Tertiary Institutions Entrepreneurship Scheme)?

Here is a direct link to contact https://cbnties.com.ng/contact. Input your details and question, then send it. They will reply shortly after this.

Website: www.cbnties.com.ng

Bottom Line

TIES loan is a unique loan special designed to finance graduates and undergraduates who own businesses. Basically, the purpose of this scheme is to promote entrepreneurship development for the sake of job creation. To apply for the TIES, go through the information above. However, you must note that the scheme is only for graduates and undergraduates of Nigerian universities and polytechnics.

Do you need a loan? Be sure to visit this loan platform that allows you to compare loans from different lenders in minutes. It offers the best and ensures that you get nothing less.

How to get loans for federal government workers in Nigeria

November 14, 2022 by Olamide Famuwagun

Human needs are unlimited. Therefore, even when you receive a monthly income as a federal worker, it might just not be sufficient to achieve your plans. This is where the loan idea comes in. It’s a chance for you to get sufficient capital, as at the time you need it with a relaxed or assured income to pay back subsequently. This article provides you with all the information you need on how to get loans for federal government workers in Nigeria and you can further explore federal loans for SMEs here.

How to get loans for federal government workers in Nigeria

For several reasons, it is important that you know how to get loans for federal government workers in Nigeria. Different private and public institutions offer loan services to federal workers. You can make inquiries about them on or through physical and technological means.

However, you can find suitable loan options from banks, online lenders, government institutions, TIES Loans and so on.

What is the maximum or minimum amount you can borrow?

The loan amount you are eligible to borrow depends on certain factors. This includes the type of loan you are applying for, either personal, auto or mortgage; the loan tenor- whether long or short term among others.

From a general overview, however, loans for Federal government staff in Nigeria are usually between ₦50,000 and N6, 000, 000.

What is the Interest rate for Federal Loans in Nigeria?

Although the interest rates vary, depending on certain factors. Interest rates for federal workers are always convenient and affordable.

What are the minimum requirements for taking up a loan as a federal worker?

These requirements are determined by the terms of your loan agreements. However, the following are some basic requirements that might apply to most lenders:

Personal details- full name, residential address, email address, phone number etc

You must have a bank account, either Current or Savings, with a commercial bank in Nigeria.
Your Staff Identification card is also an important requirement as well as your Pension statement
You must be a salary earner under the federal government with a verifiable monthly income.

Also, some lenders may require your general employment information and documentation. This may include your Letter of Employment, Confirmation, Promotion, Redeployment, and Salary Increase.

Some may also require an Introduction Letter from your Employer’s HR.

Additionally, some lenders might require that, to qualify for a federal government loan, you should be between the ages of 22 and 58 years old.

Where can I get loans as a federal worker?

As a federal worker, you can get loans from different financial institutions in Nigeria. Some of them include:

FCMB – Fast Cash
Startscredit- Creditville
ArvoFinance Web -This is powered by Arvo Finance to cater to the needs of Federal government workers in Nigeria.
Nextpayday loan – They offer loans to validly employed workers in Nigeria
Fast Credit Nigeria Limited
Petty Cash
Provest Limited – Public Sector loan
Primera MFB -Easy Money federal

How fast are funds released?

The system for the disbursement of funds equally differs from lender to lender. Although, more often than not, once your loan application is approved, the money is sent to your registered account.

What are the repayment terms for Federal Worker Loans in Nigeria?

The repayment plans for loans available to federal workers are usually very easy and convenient. This is usually subject to your agreement with a potential lender. Most times, a certain percentage of your salary may be deducted monthly or weekly for a particular period until the loan amount is fully settled.

Conclusion

It’s not enough to dream, nor is it enough to wish for more when you can achieve a dream come true and bring your wishes to life. Secure a loan today and enjoy the bliss of fulfilment.

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