Wema Bank Nigeria business Loan Application – You want to start your own business but you don’t have enough capital to support it. You can always apply for Wema Bank Nigeria business loan and get the money you need to start your own business in Nigeria.
This article will help you understand how to apply for Wema Bank Nigeria business loan, how the bank evaluates your creditworthiness, and what you can do to improve your chances of getting approved.
Getting Started with Wema Bank Business Loan Application
If you are looking to get a loan for your business, know that Wema Bank Nigeria makes it simple to submit an application. Simply visit their website, download and print out a business loan application form, fill it out by hand, sign it and mail or fax in your request. To do so online, go to Wema bank website. Either way you choose to apply for Wema Bank Business Loan we will ensure that you receive a response as quickly as possible!
Types of Business Loans Available at Wema Bank
There are various types of loans available at Wema Bank Nigeria that are specifically tailored to meet any entrepreneurs’ needs. Below is a quick list of loan types available at Wema Bank Nigeria.
- WEMA Bank Personal Loans
- WEMA Bank Business Loans
- Pharma Loan
- Medi Loan
- School Support Facility Loan
- Development Bank of Nigeria (DBN) Facility
Financing for your Business – This type of loan offers financing for every stage of your business cycle, from start-up costs to expansion and everything in between.
Lines of Credit – This type can provide access to cash when you need it with very little paperwork.
Auto/Trailer/Heavy Machinery Loans – Need funds for a new car, truck or other large purchase? We can help finance these too! From automobiles to heavy machinery, we have the tools necessary to get you the funds you need. So what are you waiting for? Apply today!
Requirements for all Business Loans at Wema Bank
- You must be at least 18 years old. You must have a valid bank account in Nigeria.
- You should not have any pending court cases, criminal charges or disputes with the Wema Bank Nigeria.
- Your monthly salary should be at least N30,000 and you must have been employed for more than one year.
- If you are an entrepreneur, your company should be operational for more than one year with an annual turnover of more than N10 million.
- Finally, if you already have a loan from the Wema Bank Nigeria, please do not apply for another loan. The system will not allow it.
- You must provide a collateral e.g land, building et.c
Required Documents for Wema Bank Business Loan Application
The following are the required documents needed for Wema Bank business loan application online
(1) original copies of documents;
(2) attested copies of documents and/or marriage certificate, birth certificate, tax identification number, company registration certificate, audited financial statements and income tax returns for the last three years; (3) Personal Identification Number; and
(4) Document backing your Collateral for loan.
Applicants should also be prepared to meet the bank’s guidelines on funds usage. A guarantee is required if the borrower intends to purchase real estate or finance personal investments or buy stocks with the funds. When applying for this type of loan, it is important that you have all necessary information with you when applying so that your application can be processed faster and efficiently. You may need to provide various pieces of documentation like an original copy of a document, attest copy of the same document and your passport. In addition, you will need an email address to create an account at Wema Bank Nigeria as well as other forms of identification like government-issued IDs and passport photocopies which can be uploaded using their eKYC facility during the business loan application process at Wema bank Nigeria.
Approval Process for Wema Bank Business Loan
We don’t ask for much: Just a Wema Bank Nigeria business loan application, which you can submit by filling out our online form. After we have received your application, we will review it and make sure all of your information is correct.
If everything looks good, we will forward it to a credit specialist who will check your credit score. Once they have it, they will contact you to determine if Wema Bank business financing is right for you.
The next step is making sure that you have enough collateral to secure the loan.
Frequently Asked Questions About Wema Bank Business Loan
- What are the benefits of a Wema Bank Nigeria business loan?
One of the best benefits is getting quick access to funds without having to go through lengthy applications or waiting on approval from outside parties like banks or other lenders.
2. What are some of the drawbacks?
Some drawbacks include the lack of flexibility when deciding what the funds are used for and high rates of interest.
3. How long does the process take?
It depends on how quickly you fill out your Wema Bank Nigeria business loan application online.
4. What happens after I’ve submitted my information?
After submitting your information, someone from our team will be in touch with you via email within 48 hours.
Wema Bank Business Loan Borrower Benefits
WEMA Bank Nigeria offers a wide range of products and services to both corporate and individuals. When you are looking for a business loan in Nigeria, we can help. Our Nigerian business loan application is easy to complete and takes only minutes. Once you have completed your application, it will be processed instantly and you will know immediately if you qualify for financing. We offer loans from as little as N100,000 and up to N10million and above with repayment terms from 12 months up to 5 years. You are never under any obligation to accept our offer so why not apply today?