ABOUT BRIDGING LOAN
Loan giving to an identified member of cooperative that are very close to themselves (by work or living together)
The purpose of this loan is to assist identified member of cooperative society who have a pending application at their cooperative but need urgent finance obligation to finance their business.
This has a 24% p. a. in 10months with a Scheduled interest only payment
REQUIREMENTS
- Be a Nigerian citizen with proper identification (kyc)
- Cooperative guarantee based.
- Monthly repayment.
- Cooperative must open account with the Bank.
- To complete facility form by both loaner and signatory.
- Sign guarantor form by the signatory to the account.
- One weeks loan processing period.
- Loan approval based on the recommendation of society executives.