In March 2024, business loans issued by lending institutions increased by 16.3%, highlighting a strong demand for capital to drive initiatives like expansion. This increase indicates that companies are ready to seize growth opportunities, leveraging business loans to fuel their ambitions. While a business loan can provide you with the required funds, it is crucial … Read more
One of the ways for a business owner to quickly achieve their entrepreneurial goals is to get access to a soft or an interest-free loan, but most of the financial institutions around the world make a profit from interest on a credit facility. However, some financial institutions in Nigeria are gradually embracing Islamic tenets of … Read more
By the end of 2021, qualified women entrepreneurs in Nigeria will enjoy $50 million credit facility from the First City Monument Bank (FCMB) courtesy African Development Bank (AfDB). Founded in April 1982, The Nigerian bank is popular for its SheVentures, one of the special loans specifically designed for women entrepreneurs in Nigeria, loans for women can … Read more
One of the hardest challenges small business owners face around the world is getting bank loans to support their startups. It’s even more difficult in Nigeria where the rate of defaulters is high. So, financial institutions are extremely cautious before granting loan requests. No one wants to go out of business. Note that there are … Read more
What is Tenor? Tenor means the length of time remaining before a financial contract expires. It is usually used in relation to bank loans, insurance contracts, and derivative products. Some use it interchangeably with the term maturity, but they have a clear distinction. For example, a loan is taken out with a three-year tenor. After two-year passes, … Read more
Less than 24 hours ago, a friend shared a loan payment evidence he received from one of the Nigerian financial institutions for his small data service company. In this post, we will share with you all you need to do to benefit from the Fidelity Bank loan and the category of credit facility available for … Read more
As one of the strongest financial institutions in Nigeria, Ecobank has a wide range of credit facility you comfortably choose from. The bank is a subsidiary of the larger Ecobank Transnational Incorporated (ETI), one of the largest independent banking groups on the Africa continent by providing a comprehensive range of retail, corporate, wholesale, investment and … Read more
Looking for a credit facility for your business? We’ve got you covered with Titan Trust Bank loan, how to apply and the required documents you need to ensure your application receives expedient attention. The bank might sound extremely new to hundreds of Nigerians, most especially for those who have not been following the banking industry … Read more
CitiBank is a global financial institution with its branches across the World including Nigeria where it provides credit facility to businesses. But one thing about CitiBank Nigeria is that its branches are strategically located in a few commercial state capitals. One thing that comes to mind is: How can I get a business loan at … Read more
There are more than 10 types of loans offered by Access Bank, but meeting the requirements is one of the major roadblocks to millions of business owners in Nigeria. In this post, we’ll highlight the loans offered by Access Bank and tips on how to know the best loans for you. Interest rate: 13.5% and … Read more