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Zenith Bank Small Business Loans – Online Application

From time to time in life and business, we find ourselves needing a little or a lot more money than we have to meet certain pressing financial goals.
Zenith Bank Nigeria plc provide structured credit to meet running costs or lump sum funds for your more audacious plans, our loans will enable you get to the next level.

Zenith Bank Small Business Loans 

EDUCATION LOAN

Education is the bedrock of social and economic development and our education loan scheme is designed to provide short term funding to enable parents/guardians pay tuition fees for their children/wards.
FEATURES
• Minimum Facility amount N100,000
• Maximum Facility amount N5,000,000
• School fees will be paid directly to child/ward’s school.
• Maximum tenor of 3 months (Junior School) , Maximum tenor of 9 months (Tertiary Institution)

REQUIREMENTS

• Completed Application Form
• Parent/guardian must have salary account domiciled with the bank.
• Child/ward must must have an account with the bank.
• Invoice of school /tuition fees

CREATIVE INDUSTRY FINANCING INITIATIVE (CIFI)

Zenith Bank Small Business Loans Requirements
The Central Bank of Nigeria (CBN) in collaboration with the Bankers’ Committee as part of efforts to boost job creation in Nigeria, particularly among the youth, has developed a Creative Industry Financing Initiative (CIFI) fund.
Eligible activities/businesses
1. Fashion
2. Information Technology
3. Movie Production
4. Movie Distribution
5. Music
6. Software Engineering student Loan

Abridged Terms and Condition of the Scheme
1. Fashion
Facility Amount: dependent on project requirement
Tenor: Up to 10 years
Pricing: 9% p.a.

2. Information Technology
Facility Amount: Dependent on project requirement
Tenor: Up to 10 years
Pricing: 9% p.a.

3. Movie Production
Facility Amount: Up to N30million
Tenor: Up to 10 years
Pricing: 9% p.a.

4. Movie Distribution
Facility Amount: Up to N500 million
Tenor: Up to 10 years
Pricing: 9% p.a.

5. Music
Facility Amount: Dependent on project requirement
Tenor: Up to 10 years
Pricing: 9% p.a.

6. Software Engineering Students
Facility Amount: Up to N3million
Tenor: Up to 3 years
Pricing: 9% p.a.

Documents Required for Disbursement
1. Accepted Offer Letter
2. 2. Business Plan
3. Board Resolution (if corporate)

OVERDRAFT

Overdraft is a type of loan which allows the borrower/obligor to draw a certain amount in excess of the credit balance in their current account within a specified tenor usually not exceeding Twelve months.

RECEIVABLE DISCOUNT/ INVOICE DISCOUNTING

Receivable Discounting/Invoice Discounting is a loan that allows the borrower/obligor to obtain monetary value (usually discounted) against confirmed invoices for jobs already executed.

LPO FINANCE

LPO Finance is a loan made available to borrowing customers to finance the supply of materials or execution of specific supply contracts to reputable organizations.

IMPORT FINANCE FACILITY

Import Finance Facility is a type of credit availed specifically for the importation of raw materials, finished goods and equipment. This can be made available as Unconfirmed LC, Confirmed LC, Deferred Payment LC, Standby LC and Irrevocable LC.

EXPORT FINANCE FACILITY

Export Finance Facility is a credit availed specifically for the export of agricultural produce or other commodities. This credit can either be availed at the pre-shipment or post-shipment stage of the transaction.

TERM LOAN

Term Loan is a credit (short term, medium or long term) availed to finance specific capital projects expansion or lines of business for a specified tenor. Repayment can be bullet, balloon or instalmental.

LEASE

Lease is specifically finance or sale and lease back financing to support the acquisition of asset or equipment.
These create contingent exposure for the bank. They take the form of instruments issued on behalf of customers to support contracts for supply, construction and performance.

BONDS AND GUARANTEE

These create contingent exposure for the bank. They take the form of instruments issued on behalf of customers to support contracts for supply, construction and performance.

HOW TO APPLY

>> Get more details about Zenith Bank Small Business Loans – Online Application 

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