CGEE potential clients are women who do not have access to the credit facilities offered by commercial banks due to lack of material collaterals.
ABOUT FESTIVAL LOAN
This loan is given to our existing clients to increase their supply and sales level during festival periods like Christmas and Ileya festival. This loan is appropriate for clients whose businesses usually involve greater sales during these festive periods and need swift fund to reinforce the business activities. It is paid back on weekly installment.
THE FOLLOWING ARE THE FEATURES OF FESTIVAL LOAN:
- Facility range: N50,000 (minimum) to N100,000 (maximum)
- Methodology: Individual lending but group liability
- Duration: 10 weeks
- Grace period: 2 weeks
- Repayment frequency: weekly
- Clients must belong to a group
BENEFITS:
- No collateral
- Access to a quick, higher loan to fund business activities
- Flexible repayment structure
- Low service charge
- Expert financial advice available
DOCUMENTATION REQUIRED INCLUDE:
- Duly completed application form
- 2 guarantors with passport photographs each
- 2 recent passport-size photographs
- A valid bank account
FREQUENTLY ASKED QUESTIONS:
1. Q: Is Festival loan accessible to new clients?
A: No. Currently, the loan is available to clients accessing Regular loan with a savins balance of #25000.2. Q: How long does it take to process and access this loan?
A: less than 24 hrs provided all documentatons and criteria are met
Important Dates
Christmas Day
Christmas Day