Mid Term Loan: this loan product is designed for customers that have repaid at least half of
their SME loan but require additional funding to meet business needs and increase cashflows.
Other specific features include:
- Individual liabilities
- No collateral
- 10% equity contribution of the loan amount
- Flat interest rate of 10%
- Monthly equal repayment of principal and interest
- Loan tenure is 4 months
- 1 Guarantor
- Maximum loan of N100,000