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Bank loan without collateral for SMEs in Nigeria

First Bank Plc offers SME Loan even to non First bank Customers, GTBank offers up to four hundred million naira SME loans, Diamond Bank Massive SME Financing.

First Plc offers loans without collateral for SMEs for the following:
1. Import Finance

2. Oil and Gas contract Finance

3. Invoice and Discounting Finance

4. Bonds and guarantee

5. Telecommunication Distributorship Finance

6. Petroleum Dealership Finance

How To Apply:
The product is available to existing and prospective customers of the Bank who can apply through any of our branches. Formal request letter to be submitted to the Relationship Manager at the Branch.

GTbank offers loans without collateral for SMEs for the following:

SME Term Loan (Build or Buy): This is a medium to long term facility aimed at assisting established and well-structured schools in the expansion of their landed properties to meet obvious or anticipated business demand. The tenor spans from 3 to 10 years, giving schools funds up to 400million.

Invoice Discount Facility: Is a short term borrowing facility which provides a quick cash flow solution to your business needs. Your business can draw money against invoices (receivables) issued before your clients pay for products supplied or services rendered. Up to 70% of the value of confirmed invoices can be advanced for a set period of 30-90 days prior to when payment is made.

Trading Overseas: We provide a full range of services including bills for collection and letter of Credit for international trade settlement.

Kindly walk into any GTbank to obtain the loan

Diamond Bank offers access to short and medium term financing for working capital & asset purchase needs with reduced collateral requirements. These loan products are as follows;

Revolving Credit is a Line of Credit / Term loan for short-term financing (max. 1 year)

Instalment Loan is a Term Loan for fixed assets financing available for up to 3 years 

Mediloan is a Partnership between Diamond bank and USAID (United States Agency for International Development), that has developed a credit Scheme focused on businesses operating specifically in the health care sector.

Local Purchase Order (LPO) finance – is a short term finance facility to MSME customers to carry out supply requests. The supply order must come from only pre-approved institutions by Diamond Bank Plc

Contract finance - is a short term finance facility for the execution of contracts from Diamond Bank’s approved list of companies. Finance is available for a variety of legitimate contracts awarded by government agencies and reputable private organizations in the country operating in the different sectors and contracts with varying levels of complexity.

Import finance - offers credit facilities to MSME customers who require finance for importing either raw materials or finished goods for sale. It also offers short term credit facilities to these importers for the purpose of duty payment.

Kindly visit any diamond bank branch nationwide for more details


This post first appeared on NairaLeaks, please read the originial post: here

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Bank loan without collateral for SMEs in Nigeria


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