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9Credit Loan – How to apply and get a quick loan within 5 minutes

Technology has made it easy for you to take out emergency plans from the comfort of your home. With the 9Credit loan platform, you can use your phone to get a loan of up to 100,000 in 5 minutes. Now, you may be wondering how to go about this process. Here’s what to do. 

9Credit Loan
9Credit Loan

An Overview of 9Credit Loan

9Credit is one of Nigeria’s leading instant loan platforms that allows you to obtain loans within 5 minutes. Basically, you can take out loans of up to 100,000 from the comfort of your home without any rigid procedure. 

This loan app is registered under Nigerian law and aims to meet the financial needs of Nigerians who are in need. 

How can I register on the 9Credit loan app? 

To register on this platform, you need to download the app first. You will need to find a guide on how to download the app below. Thereafter, follow the steps below:

1. Open the app and enter your details in the registration form. 

2. The app will send you an OTP code which you will also have to enter and get a verification code. 

3. Lastly, verify your account. After this, you have created your account successfully. 


Get a loan up to N100,000 at the best affordable rates in Nigeria   

Did you know that you can now you can compare interest rates from different lenders with our loan simulator and get the best deal? Making an informed loan decision requires comparing different loan offers before making a commitment. Through our simulator, you can see at a glance, loan offers coming from different lenders in less than 5 minutes, so you can make the right decision regarding your financing. Try it today


How can I borrow a loan from 9Credit?

Borrowing a loan on this platform is very easy. Just follow the steps below:

1. Download the 9Credit app on your smartphone. You will find a guide on how to download it below. 

2. Next, create your 9Credit account by filling out a simple form within 30 seconds then submit it. 

3. Apply for any amount of loan that meets your needs.

4. Lastly, receive the loan into your bank account. 

How much loan can I get on 9Credit?

Basically, this loan platform offers you a loan between NGN 3,000 – NGN 100,000 with a payback duration of 62-90 days. Also, the interest rate on the 9Credit  platform is 0.07% per day and 25.55% per annum. 

What are the requirements to obtain a 9Credit loan? 

Here is a list of what you must possess for your 9Credit Loan application to be successful:

1. You must be a Nigerian citizen and must be residing in Nigeria

2. A functioning Bank Account.

3. Bank Verification Number (BVN).

4. You must be between the ages of 18 to 56.

5. A valid phone number.

6. You must have a reliable source of monthly income.

How can I download the 9Credit app?

To download the 9Credit app, follow the steps below:

1. Follow this link to their web platform https://app-api.9moni.com/wap/index

2.  Next, click on “download” 

3. Wait for the app to get downloaded to your phone, then install it and start your registration process. 

How can I repay my 9Credit loan?

To pay back your instant loan, follow the instructions below: 

1. First open the 9Credit mobile app and go to loan history

2. Next, tap on “Repay Loan” and you will get an estimate of how much money you owe.

3. Lastly, choose your preferred repayment method and pay back your loan. 

How much is the processing fee on 9Credit?

The processing fee on 9Credit ranges from ₦90 to ₦2,000. Also, the platform charges for GST. The GST charge is usually 18% of your Processing Fee. 

How can I contact 9Credit loan?

Here’s how you can contact the platform: 

Office address: Lawal street, oregun, ikeja, Nigeria

Website: https://www.9moni.com

FaceBook: https://www.facebook.com/Nine-credit-110139311612277/

Hotline: +234 09019310402

Online service: https://im.9moni.com/

E-mail: customer@9credit.co

Bottom Line

If you need money urgently, the 9Credit loan platform is definitely one you should consider. The process of obtaining a loan on this platform is easy, convenient, and stress-free. However, before you take out a loan, make provisions to pay it back as soon as possible so the interest rate will not accumulate. 

You can obtain a comprehensive loan, tailored to your specific needs by using this platform. Basically, it allows you to compare loans from different lenders across Africa, ensuring the best option doesn’t slip through  

Retail Loan – Everything you need to know

Every business has its ups and downs, hence, it is normal for most business owners to need a loan at some point. When you borrow a loan as a business owner or an individual, the loan you obtained is called a retail loan. Read further to understand everything about this kind of loan and how it works. 

Retail Loan
Retail Loan

What are retail lenders?

Retail lenders are lenders who give loans to individuals instead of organisations. Some good examples of retail lenders include credit unions, banks, credit card companies, savings and loan institutions, etc. While retail lenders deal with individuals, wholesale lenders give loans to other lenders. So if you want to obtain a loan as an individual, you get it from retail lenders, as only institutions can borrow from wholesale lenders. 

What are Retail loans?

Retail loans are loans that individuals obtain from retail lenders. They comprise a wide range of different loans. Basically, personal loans like mortgages, car loans, credit cards, and signature loans all fall into the classification of retail loans. Also, other loan types like instalment loans, business loans, microloans etc still fall into the category of retail loans. 


Get a loan up to N100,000 at the best affordable rates in Nigeria

Did you know that you can now you can compare interest rates from different lenders with our loan simulator and get the best deal? Making an informed loan decision requires comparing different loan offers before making a commitment. Through our simulator, you can see at a glance, loan offers coming from different lenders in less than 5 minutes, so you can make the right decision regarding your financing. Try it today


What are loans for retailers?

Sometimes, the words “retail loans” and “loan for retailers” are used interchangeably. Basically, these loans were designed to satisfy the needs of small-scale entrepreneurs in the retail industry. As stated earlier, this kind of loan is the umbrella term for a wide range of different loans that individuals obtain for personal or business use. However, the type of business loan that is most appealing to retail lenders is inventory loans. 

What are inventory loans?

Inventory loans are loans that are secured by inventory and can be used for anything, ranging from working capital to buying new equipment, paying routine bills, starting a market campaign, etc. This kind of loan is very common among wholesalers, retailers, and other people who sell products. 

Basically, loans that are secured by inventory are loans that use a business’s inventory as collateral. Basically, this kind of loan allows the lender to claim the business inventory if the borrower fails to pay back the loan. It is similar to how a vehicle lender can take back a car if the borrower does not repay the loan.  

To take out an inventory loan as a small business owner, you will need a strong inventory tracking system. In most cases, the lender will also demand your inventory records to help them determine how much loan you qualify for. 

When should retailers borrow loans?

Taking out a loan for your business is a significant decision that requires critical thinking. You need to think carefully about the cost of the loan (together with interest) and the possible return on investment. If the cost of the loan outweighs the possible return on investment, you may need to reconsider your decision. 

If you are caught up in this situation, start looking for other solutions to finance your business. You can reduce the expense in one area of your business and reinvest this money in another area. 

However, if the possible returns are greater than the cost of the loan, you can start applying for your loan immediately. 

Bottom Line

The phrase “retail loans” simply refers to loans that borrowers obtain from retail lenders. Retail lenders are lenders that provide loans to individuals.  Essentially, this kind of loan is designed to cater to individuals and business owners in the society. Hence, any loan you obtain for either business or personal use can be called a retail loan. 

You can obtain a comprehensive loan, tailored to your specific needs by using this platform. Basically, it allows you to compare loans from different lenders across Africa, ensuring the best option doesn’t slip through

StartCredits Lagos – The most reliable loan comparison platform in Nigeria

Are you finding it difficult to find a good loan platform with a low-interest rate? Or do you prefer to obtain quick and stress-free loans from money lending platforms? If your answer to both questions is yes, you are in the right place. StartCredits Lagos is a company that offers you access to a variety of loans, money lending, and investment services. Basically, their platform allows you to compare these services and select the best one for you. Here is all you need to know about StartCredits company. 

StartCredits Lagos
StartCredits Lagos

An Overview of StartCredits Lagos

StartCredits is one of Nigeria’s leading credit risk data analytics companies. Basically, they collect data on various loan, money lending, and investment companies in Nigeria so you can compare their rates and select the best one for you. It is essentially a platform that helps you search for the best loans, investment, and money lending services. The company has two headquarters. One is situated in Lagos and the other in London. 

What services does StartCredits Lagos offer?

Here is a list of the services that StartCredits offers:

1. Loan services

This platform offers you a free loan search. This loan search will help you to identify the most suitable loan with affordable interest rates in any category you choose. Also, the platform gives you access to various reliable money lenders in Nigeria.  

A money lender is quite different from banks and financial institutions that give you loans. Usually, money lenders offer you small personal loans with high-interest rates. They provide you with fast loans when you do not have access to banking services. With StartCredits, you can compare the best money lending services, bank loans, as well as other lending platforms.


Get a loan up to N100,000 at the best affordable rates in Nigeria

Did you know that you can now you can compare interest rates from different lenders with our loan simulator and get the best deal? Making an informed loan decision requires comparing different loan offers before making a commitment. Through our simulator, you can see at a glance, loan offers coming from different lenders in less than 5 minutes, so you can make the right decision regarding your financing. Try it today


2. Investment services

Investment is another service you can get on this platform. Basically, they calculate the interest rate of various investment platforms and give an estimate so you can compare and make better decisions. 

There are primarily two types of investment services this company offers. They include bitcoin and bank investments. So you can choose to save your money at the bank and earn interest, invest in cryptocurrency, or buy shares and bonds in a reputable organisation.

How can I register on StartCredits Lagos?

This register on the StartCredits platform, follow the steps below: 

1. Visit their website, www.startcredits.com

2. Next, open the taskbar and click on “Log In”

3. Tap “Join Now” and select your preferred subscription.

How can I borrow a loan on StartCredits?

To borrow a loan on StartCredits, follow the steps below:

1. Visit their official website www.startcredits.com

2. Next, click on “Find Loans”.

3. Thereafter, select your loan amount, loan type, and loan purpose then you can start applying for loans from any loan facility. 

Basically, this platform gives you access to different loan facilities while you pick the most suitable one for you based on the interest rate. 

Does StartCredits have an app?

No, StartCredits does not have a mobile app. However, you can easily access all their services on their web platform. Just visit www.startcredits.com

How can I contact StartCredits Lagos?

Here is how you can contact StartCredits Lagos:

Address: 5 Ashimowu Street, Gbagada, Lagos, Nigeria

Email Address: info@startcredits.com

Website: www.startcredits.com

Bottom Line

StartCredits Lagos is a credit risk data analytics company that gives you information about various loan, investment, and money lending services so that you can make better decisions. So, if you need a quick loan at the best rates, you can just visit their website, register, and search for the most suitable one for you. 

You can obtain a comprehensive loan, tailored to your specific needs by using this platform. Basically, it allows you to compare loans from different lenders across Africa, ensuring the best option doesn’t slip through

The Concept of Lending – Understanding How Lending And Borrowing Work

The importance of understanding how lending and borrowing work is usually not emphasized enough. As an individual or a business owner, there’s a good chance you’ll need to borrow to fund a business, business ideas, or a personal venture at some point.

While the nitty-gritty of borrowing and lending may vary depending on the type of loan you’re seeking (student loan, car loan, mortgage, etc.), there are general principles that can be applied across the board.

Lending, in the basic sense, refers to the act of giving someone money with the expectation that they’ll pay it back in the future.

Usually, the lender and the borrower agree on how the money will be paid back. It could be weekly, monthly, yearly, and so on. And in return for lending the money, the lender charges the borrower a percentage of the amount borrowed. This is known as an interest rate.

Rethinking The Concept of Lending

On the 13th of October 2022, First Central Credit Bureau – One of Nigeria’s underwriters will be hosting a live webinar to discuss all you need to know about the concept of lending as it applies to Nigeria and Africa at large.

This webinar would feature top professionals who are making their mark in the lending industry as speakers. They include:

  • Abasiama Idaresit – The CEO and founder of Wild Fusion Holdings
  • George Gbadejo-Adegbenga – The Founder and CEO of MIM
  • Adenrele Oni – MD/CEO Richway Microfinance Bank
  • Luz Maria Salamina – Lead of Credit Infrastructure for Africa

The Speakers

 

Deji Peters – MD/CEO of First Central Credit Bureau [Host]

Deji Peters is the MD/CEO of First Central Credit Bureau, a part of an emerging global brand that is committed to designing and deploying solutions that turn data into strategic tools for information and risk management.

Deji has over 10 years of working experience in Business Development and Analytics both within and outside Nigeria. He is a graduate of Economics and holds an MBA from Durham.

He is a professional and associate member of various institutions, which include the Nigerian Institute of Management (NIM) Chartered institute of stockbrokers (CIS), Microsoft Corporation, and Chartered Institute of Administration and Fraud Examiners (CIA) amongst others.

 

Abasiama Idaresit – CEO and Founder of Wild Fusion Holdings [Speaker]

 Abasiama is a Technology Entrepreneur and CEO and Founder of Wild Fusion, a Technology Holding company with one of Africa’s leading digital agency with offices in Nigeria, Ghana, and Kenya as one of its subsidiaries. Another of its subsidiary includes a Fintech Credit Marketplace that connects lenders and borrowers enabling Lenders disburse almost half a million loans monthly.

 Mr. Idaresit is an expert and a leader in the field of Technology and Business. From building businesses to enabling tech-driven organisational succeed, he has been at the front line advocating, building and funding to drive the adoption and penetration of Digital technology across Africa.

In 2017, Mr. Idaresit was recognized as one of the Most Influential People of African Descent (MIPAD) and the Choiseul Institute of Paris as one of the Young Economic Leaders from Africa.

 

George Gbadejo-Adegbenga – FOunder and CEO of MIM [Speaker]

George Gbadejo-Adegbenga is a qualified Barrister and a well-rounded Fintech entrepreneur and versatile credit management professional with a strong commercial, residential, and consumer finance background gained during employment at GE Money, Eversheds LLP, Ventura, Kingsley Brookes Solicitors, HML and Loans 2Go.

He is a confident communicator with proven leadership skills across a range of financial services sectors and is capable of operating effectively at all levels within an organization/firm.

He has extensive exposure to civil procedure rules, commercial law, employment law, contract law, criminal law, regulatory law, FCA, financial institutions, clients, and industry peers.

 

Adenrele Oni – MD/CEO of Richway Microfinance Bank [Speaker]

Adenrele Oni is the Managing Director & CEO of Richway Microfinance Bank Limited. He was the past Managing Director & CEO of FBN Mortgages Limited (a subsidiary of First Bank of Nigeria) with about 25 years of experience in the banking industry.

He was formerly the General Manager and Chief Representative Officer in charge of the South Africa Rep Office of First Bank with coverage for business development in the Southern African Development Countries. He’s also a former President of South Africa – Nigeria Chamber of Commerce.

 

Luz Maria Salamina – Lead of Credit Infrastructure for Africa [Speaker]

Luz Maria Salamina is a Lead Financial Sector Specialist at the World Bank in the Finance, Competitiveness & Innovation Global Practice.

Register to attend

event webinar on lending in Nigeria

Student Loan Trust Fund – Apply for a student loan with ease

Education is a very important aspect of a child’s life that helps to shape a child’s future. However, as important as it is, not everybody can afford a quality education. Hence, the government and other bodies have come together to create initiatives that can provide student loans to those who can not afford to pay for their education. The Student Loan Trust Fund (SLTF) is one of these initiatives established to provide loans for Ghanaian students in tertiary institutions. 

Student Loan Trust Fund
Student Loan Trust Fund

An Overview of Student Loan Trust Fund (SLTF)

STLF was founded in December 2005 under Act 106, the Trustee Incorporation Act 1962. Basically, a Board of Trustees governs this initiative and this Board consists of distinguished people of important backgrounds. The major objective of the Trust Fund is to provide financial resources to students who are in need. Essentially, they cater to students by providing loans for their tertiary education.  

What services does the Student Loan Trust Fund (SLTF) offer?

Basically, the SLTF offers loan services to students seeking to go to a tertiary institution in Ghana but can not afford the school fees. This loan will cover your bills for a specific session and when it is due, you need to pay it back. You have a grace period of two years before you need to pay back the loan you borrowed. 


Get a loan up to N100,000 at the best affordable rates in Nigeria

Did you know that you can now you can compare interest rates from different lenders with our loan simulator and get the best deal? Making an informed loan decision requires comparing different loan offers before making a commitment. Through our simulator, you can see at a glance, loan offers coming from different lenders in less than 5 minutes, so you can make the right decision regarding your financing. Try it today


How can I apply for a loan from the Student Loan Trust Fund?

To apply for a loan from the SLTF platform, follow the steps below:

1. First download the app from the App Store or Google Play Store.

2. Next, open the app and create your account by filling out the application form with your basic details. 

3. Once you do this successfully, you can apply for a student loan. However, for your loan application to be successful, you must meet some requirements. 

Alternatively, you can go to their website, www.sltf.gov.gh, create an account and follow the subsequent instructions you will receive. 

What are the requirements to access a loan from the Student Loan Trust Fund?

Before you apply for the loan, remember that you should meet all of these requirements:

1. You must be a citizen of Ghana and an accredited university in Ghana must have offered you admission. 

2. Having a valid Ghana Card Number is compulsory. You can get this number at any designated GRA office free of charge.

3. You must be seeking to pursue a tertiary programme, like a 1st degree or diploma. Also, you must have an admission letter or a Student ID card.

4. A valid Email Address, a registered and active phone number, and an E-zwich Card.

How can I download the Student Loan Trust Fund app?

To download the app and borrow a loan with ease, follow the steps below:

1. On your android smartphone, open Google Play Store. However, if your smartphone is an iOS device, open the App Store.

2. Next, search for “SLTF” app

3. Lastly, download the app and create an account to enable you to apply for a loan with ease. 

How Can I Contact the Student Loan Trust Fund?

Here’s how you can contact SLTF: 

Address: Hse # 47,3rd Crescent Asylum Down – Accra

Email Address: info@sltf.gov.gh

Phone Numbers: +233 (0)302 231 886, +233 (0) 302231873

Website: www.sltf.gov.gh

Bottom Line

The Student Loan Trust Fund (SLTF) is simply a platform where you can borrow money to cover your university bills. All you have to do is to apply for a student loan through their platform and wait for it to get approved. However, you must meet some requirements for the platform to grant you loans. For easy access to their loan, just download their app on your smartphone from Google Play Store or the App Store. 

You can obtain a comprehensive loan, tailored to your specific needs by using this platform. Basically, it allows you to compare loans from different lenders across Africa, ensuring the best option doesn’t slip through

Loan Extension – What is a loan extension and how does it work?

Applying for a loan extension is a great way to survive if you experience financial hardship while paying back a loan. Basically, this option allows you to temporarily postpone your loan payments when you are not capable of handling it financially. It serves as a breath of fresh air for people struggling and it gives relief to people struggling to settle more pressing expenses. 

Loan Extension
Loan Extension

What is Loan Extension?

A loan extension is a written agreement between a borrower and lender that indicates the postponement of a loan’s maturity date. Basically, the borrower uses this agreement to adjust the loan payment schedule when he/she is behind on payments. This gives the borrower a chance to recover from the late payments and get back on track. 

How does Loan Extension work?

Generally, a loan extension allows you to skip a certain number of repayments, which will be added to the end of the loan’s tenure. This often results in the lender extending the debt’s maturity date by the number of payments you missed. However, you must remember that interest on the loan will continue to accumulate even during the period when you suspend payments. 


Get a loan up to N100,000 at the best affordable rates in Nigeria

Did you know that you can now you can compare interest rates from different lenders with our loan simulator and get the best deal? Making an informed loan decision requires comparing different loan offers before making a commitment. Through our simulator, you can see at a glance, loan offers coming from different lenders in less than 5 minutes, so you can make the right decision regarding your financing. Try it today


How do you qualify for a Loan Extension?

The requirements for qualifying for an extension can vary depending on the lender. However, most lenders will ask you to:

1. Provide proof that your financial condition is not permanent and you can continue repaying your loan when you bounce back from your financial hardship. 

2. Bring proof of your credit history so that they can know if you paid your past debts timely or not. Basically, this is a major prerequisite for obtaining a loan extension.

Some may require some costs for extensions and this amount can vary depending on the lender. Just ensure that you inquire if there are added costs before you accept an extension. 

How can I request a Loan Extension?

Here are 5 steps to take if you want to request an extension: 

Step 1

Get the customer service phone number of the lender or financial institution you borrowed from. Basically, you can get this from any recent balance statement of the loan.

Step 2

Next, contact the lender or financial institution to inquire about how you can request for a loan extension. They will give you details on how you can go about it and let you know how to access and fill out the application form. 

Step 3

Fill out the loan extension application form. Usually, the form will ask you to indicate how many payments you wish to skip. Also, you will need to fill out your basic details on the form and sign it. Additionally, you will need to provide proof of your financial hardship, your income and expenses every month, and your recent bank statement. 

Step 4

Once you are done with step 3, send the form you filled to the lender/financial institution on time. Thereafter, you will need to wait for them to decide if they should extend your loan or not. 

Step 5

If you do not get a reply from the lender regarding the extension, contact them to know their decision before your next payment is due. 

Conclusion

Loan extension is simply a way to postpone your own payments. This agreement can be really helpful since it is normal for everyone to experience financial crisis at one point in their lives. Basically, it will serve as a relief after a short period of suffering. However, you must remember that applying for a loan extension will increase the interest rate on your loan.  

You can obtain a comprehensive loan, tailored to your specific needs by using this platform. Basically, it allows you to compare loans from different lenders across Africa, ensuring the best option doesn’t slip through

Financing Business for Job and Wealth Creation

The lack of enough jobs in Nigeria has rendered many young Nigerian youths unemployed. Also, it is no news that many Nigerians lost their jobs due to the negative impact Covid-19 had on the economy. Hence the Financing Business for Job and Wealth Creation (FBJWC) launched a program that aims to equip unemployed Nigerians with the right skills. This program is called Basic Entrepreneurship and Skills Training (BEST) and empowers Nigerian youths by training the unemployed on the right skill set. This helps you to earn money with your skill instead of waiting for a white-collar job. 

Financing Business for Job and Wealth Creation
Financing Business for Job and Wealth Creation

An Overview of Financing Business for Job and Wealth Creation  

The Financing Business for Job and Wealth Creation (FBJWC) together with Intuit financing Inc. founded one of the largest job creation and skill training programmes in history. This programme is called The Basic Entrepreneurship and Skill Training Program (BEST). 

Basically, this Initiative aims to provide directions in human wealth development. Also, it helps to shield young unemployed people from the bad impact Covid-19 had on the Nigerian economy. This program will provide 774,000 Nigerians with paid skill training and job placements.

Essentially, the Basic Entrepreneurship and Skill Training Program (BEST) prepares young Nigerians who are unemployed to work for themselves, employ other people, and even be valuable wherever they go. The training program will be held in all Technical and Vocational Centers around Nigeria for 6 months.

How can I apply for Basic Entrepreneurship and Skills Training (BEST) Programme?

To apply and learn an entrepreneurial skill, follow the steps below: 

1. Visit the website, www.fbjwc.ng/ 

2. Next, fill in the application form you find there and submit it.

Ensure that you meet the requirements so you can qualify for the loan. Basically, to be eligible to join the BEST programme, you must be a citizen of Nigeria between the ages of 18 and 35.


Get a loan up to N100,000 at the best affordable rates in Nigeria

Did you know that you can now you can compare interest rates from different lenders with our loan simulator and get the best deal? Making an informed loan decision requires comparing different loan offers before making a commitment. Through our simulator, you can see at a glance, loan offers coming from different lenders in less than 5 minutes, so you can make the right decision regarding your financing. Try it today


What skill areas do the Basic Entrepreneurship and Skills Training (BEST) Programme offer training in?

The Basic Entrepreneurship and Skills Training (BEST) Programme offers training in a variety of relevant skill areas. Hence, all you will need to specify what area you are interested in during your application process. The  Basic Entrepreneurship and Skill Training Program (BEST) will offer training and employ trainees in these skill areas:

1. Agriculture

2. Catering and Confectionery

3. Woodwork and Furniture

4. Electrical Installation and Repair

5. Aluminum Profiling

6. Audiovisual Services

7. Fashion Design and Tailoring

8. Make-up and Make-over

9. Hairdressing and Braiding

10. Plumbing

11. Solar Works

12. Tiling and Interlocking

13. Pop, Painting, and Screed Making

14. Welding and Fabrication

How much will I get paid from the BEST Program by Financing Business for Job and Wealth Creation (FBJWC)?

If the program selects you as a trainee, you will receive a stipend of ₦30,000 every month. The Financing Business for Job and Wealth Creation will pay you this money when you achieve the planned result for every month.

Final Thoughts

The BEST program by Financing Business for Job and Wealth Creation (FBJWC) is simply a training that equips the unemployed with entrepreneurship skill sets. Basically, this empowers you to create wealth for yourself through your skills rather than seeking white-collar jobs. If you want to apply for it, the information above will guide you on what to do. 

Do you need a loan? Be sure to visit this loan platform that allows you to compare loans from different lenders in minutes. It offers the best and ensures that you get nothing less.

W Power Loan By Access Bank

Are you a woman seeking for a loan to operate your business? Then you should be interested in the W Power Loan by Access Bank. Basically, this programme was designed by Access Bank to bridge the financial gap in the women’s sector. They do this by offering women-owned businesses loans to run the business. 

W Power Loan By Access Bank
W Power Loan By Access Bank

An Overview of W Power Loan By Access Bank

The W Power Loan by Access Bank is a programme run by Access Bank PLC and aims to empower women. Basically, they do this by providing women with loans to run their businesses. It is a strictly women’s loan programme that is suitable for women in sectors like Manufacturing, Fashion, Education, Hospitality & Tourism, I.T, as well as HealthCare.

What services does the W Power Loan By Access Bank offer?

Basically, the W Power loan offers loan services to women-owned businesses. They grant loans in two broad areas:

1. Term Loan

Term loans are strictly meant for business infrastructure upgrades and asset acquisition. Basically, you can use this loan to purchase machinery, equipment, or any other fixed assets you need for your business.

2. Working Capital

Working Capital loan helps to offset the daily bills your business runs on. Basically, you can use this loan to buy raw materials or pay off other everyday operating expenses of your business.


Get a loan up to N100,000 at the best affordable rates in Nigeria

Did you know that you can now you can compare interest rates from different lenders with our loan simulator and get the best deal? Making an informed loan decision requires comparing different loan offers before making a commitment. Through our simulator, you can see at a glance, loan offers coming from different lenders in less than 5 minutes, so you can make the right decision regarding your financing. Try it today


How can I apply for a W Power Loan By Access Bank?

If you want to apply for this loan, here’s how to go about it:

1. First, follow this direct link, https://wpowerloan.thewcommunity.com/

2. Next, fill in the application form with the correct details. 

3. Lastly, submit your details and wait for a response to your request. 

What documents do I need to apply for the W Power Loan?

Here are some documents you will need to apply for this kind of loan

1. Company Registered Name 

2. Years of Business Operation 

3. Current Address of Operation 

4. Nature of Business/Activity

5. Loan Amount Requested 

6. Registered Business Address 

7. Head Office Address (If different from above) 

8. RC or Registration Number

9. Date of Registration 

10. Your Office Telephone No

11. Website or Webpage 

12. Email Address

What are the requirements to apply for W Power Loan By Access Bank?

Here are what you need to qualify for the loan:

1. You must have been operating your business for at least one year. Also, your business must have at least 5 million Naira annual turnover. 

2. If your Access Bank account is still new, you must have operated it for at least 30 days.

3. Some other Terms and Conditions, such as credit history checks may apply.

What is the maximum and minimum loan amount on W Power Loan?

Here is a breakdown of how much loan you can access depending on the requirements you meet: 

1. Tier 1

Maximum Loan Amount:  N100m (One Hundred Million Naira)

Minimum Years of Business Operation:  10 years

Staff Strength:  Minimum of 20 staff

Annual Revenue Turnover:  Above N300m

Equity Contribution:  At least 20%

2. 2nd Tier 

Maximum Loan Amount:  N50m (Fifty Million Naira)

Minimum Years of Business Operation:  5 years

Staff Strength:  Minimum of 5

Annual Revenue Turnover:  Above N100m-N300m

Equity Contribution:  20%

3. For Tier 3

Maximum Loan Amount:  N20m (Fifty Million Naira)

Minimum Years of Business Operation:  3 years

Staff Strength:  Minimum of 5

Annual Revenue Turnover:  Above N10m-N100m

Equity Contribution:  15%

4. Tier 4

Maximum Loan Amount:  N5m (Fifty Million Naira)

Minimum Years of Operation:  1 year

Staff Strength:  Minimum of 2

Annual Turnover:  Above N2m-N10m

Equity Contribution:  15%

Loan Tenor: Between 12 – 36 months

How much loan can I access on W Power Loan?

Depending on the kind of business you run and its risk level, you can obtain up to 100million naira loans. However,  you must remember that this loan is just for women-owned businesses. The business must have at least 50% homeownership and must be managed by a woman.

How can I contact W Power Loan By Access Bank?

Here’s how to contact W Power Loan:

Phone Number: +234 1- 2712005-7, +234 1-2802500, 07003000000, 01-2273000

To learn more about the W Power Loan, call Access bank’s hotline 1-2273005

If you want to check your W Power Loan status, just contact ESG Info@esgforwomen.com

Website: www.accessbankplc.com

Bottom Line

The W Power Loan By Access Bank is simply a loan that caters to women-owned businesses. As long as your business fits into the requirements, you have a high chance of receiving the loan. Hence, if you are a female entrepreneur, you can simply apply for the loan by following the steps listed above.

Do you need a loan? Be sure to visit this loan platform that allows you to compare loans from different lenders in minutes. It offers the best and ensures that you get nothing less.

NEXIT Loan

Were you once a participant of the Npower scheme and you want to apply for its exit benefits? Then, you must have heard about NEXIT loan. Basically, the Npower/CBN Empowerment scheme, also called NEXIT aims to empower Npower exited beneficiaries by giving them loans to start up a business. This guide will help you understand what the scheme is all about and how to register and qualify for the loan. 

NEXIT Loan
NEXIT Loan

An Overview Of NEXIT Loan 

NEXIT loan is a type of loan that the Federal Government Of Nigeria provides for exited participants of the N-Power programme. Basically, the government created the NEXIT registration portal solely for all N-power beneficiaries. 

The Federal Ministry of Humanitarian affairs together with the Central bank of Nigeria collaborated with the Federal Government to create this platform. With this portal, all N-power beneficiaries can access a variety of CBN empowerment options. 

Also, they can apply for the numerous entrepreneurship, economic, and empowerment programmes the Central Bank of Nigeria has to offer. 

How Can I Register And Apply For A NEXIT Loan?

To register and apply for the NEXIT loan, just follow the procedures below: 

1. First, visit the N-power NEXIT web portal via https://nexit-fmhds.cbn.gov.ng/auth/signup

2. Input the E-mail Address you registered with as an N-Power Beneficiary

3. Next, input your password and confirm it. Remember to always keep your password private.

4. Thereafter, enter your basic details like your first name, surname, and BVN.

Lastly, cross-check the details to ensure that they are correct then click on submit. Yep platform will redirect you to an E-mail activation page. When you get to this stage, do this:

1. Re-enter your email address then click on ‘Resend Activation Mail‘

2. Wait for a verification mail that the portal will send to you. 

3. Next, activate your account by clicking on the link in the verification mail that you received. 

Lastly, re-login into the NEXIT portal and enter all your necessary information. Once you do this, your registration is successful. 


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What Requirements Do I Need To Apply For NEXIT Loan?

Candidates who want to apply for this loan benefit must fulfil the following conditions:

1. You Must Be Nigerian by Birth

2. Not currently employed in any government establishment (either State or Federal Government)

3. You must be either N-Power Batch A and B beneficiary.

4. Your NIN Number is also compulsory. 

5. Educational Qualification Credentials 

6. Your NPVN number

7. Bank Verification Number (BVN)

8. Your deployment letter from your PPA (place of primary assignment)

9. You need a valid means of identification like a voter’s card, National Identity Card, Driver’s Licence, NIN Number, or International Passport.

How much is the loan for NEXIT?

Candidates whose applications are successful will get up to 5 Million Naira loan without needing any collateral. Basically, this makes the offer a very attractive one. 

How Can I Qualify For A NEXIT Loan?

Basically, the NEXIT Loan Business Plan is divided into 10 Parts, namely:

1. Personal Details (Biodata)

2. Business Information

3. Loan Information

4. Equipment List 

5. Working Capital List 

6. Product And Services 

7. Assets List 

8. Competitive Analysis

9. Management Plan

10. Swot Analysis

However, the major points the programme uses to disqualify candidates depends on the information in Number 4,5,6, and 7. Also, the judges will screen your managerial Plan and Competitive Analysis.

If you want to qualify for this loan, you should have a professional perspective on how to effectively use the loan capital. This is especially important for the numbers the judges are most concerned about. You have to draft a professional but detailed summary of your proposed business plan.

Do I need a CAC Certificate To Access The NEXIT Loan?

Basically, if your business has a CAC (Corporate Affairs Commission) certificate, it can increase your chances of securing higher loan amounts. With this certificate, you may be able to secure a loan within the range of a N1million to N3million. However, if you do not have this certificate, this means that you may receive lower loan amounts for your business. 

Bottom Line

NEXIT loan is a special type of loan the Federal Government of Nigeria offers to individuals who have completed the N-power programme successfully. Basically, this loan serves as a source of financial empowerment to enable these individuals to start a business. If you need a guide on how it works, follow the tips above. 

Do you need a loan? Be sure to visit this loan platform that allows you to compare loans from different lenders in minutes. It offers the best and ensures that you get nothing less

Stanbic IBTC Pension Loan

It may seem impossible but you can take out a loan from your pension account when you are out of jobs. With the Stanbic IBTC pension loan benefit, pension account holders can take out a loan from their account before retirement. Basically, once you are out of a job for at least 4 months, you become qualified for this loan. Here is what you should know about the Stanbic IBTC Pension Loan.

Stanbic IBTC Pension Loan
Stanbic IBTC Pension Loan

An Overview of Stanbic IBTC Pension

Stanbic IBTC Pension Managers Limited, a subsidiary of Stanbic IBTC Holdings was founded on 19 May 2004. Basically, this company provides you with a pension account where you can save toward your retirement. They practice good corporate governance and aim to preserve the value of the money in your Retirement Savings Account (RSA). 

What Services Does Stanbic IBTC Pension offer?

Here are the services this pension organisation offers:

1. Retirement Savings Account (RSA)

The company designed the Retirement Savings Accounts to enable you to set aside funds, which they will invest on your behalf. You can start saving now to secure your future after retirement.

2. Micro Pension Account

The company designed the Micro Pensions account for individuals who are in the informal sector. Basically, this account allows entrepreneurs and business people to save towards retirement. These set of individuals can also partake in retirement and benefit from the scheme.


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3. Voluntary Contributions

Voluntary Contributions (VCs) are the extra contributions that you can make alongside the compulsory contributions that your employer pays. Basically, to make this contribution, all you have to do is notify your employer to make the deductions from your monthly salary. It is as simple as that. 

4. Retirement

Your employer is mandated to contribute a certain amount of your salary towards your pension. Basically, this fund will be invested with the expectation of assuring you still earn even if you are retired or out of employment. 

According to the Law of the Pension Reform Act (PRA) 2014, a pension contributor is considered to be retired when he/she is above 50 years old and out of employment.  

How Can I Open A Stanbic IBTC Pension Account?

To open a Stanbic IBTC pension account, follow these instructions below: 

1. First, visit their official website, www.stanbicibtcpension.com

2. Next, click on “Open a Pension Account”

3. Thereafter, click on your preferred type of pension plan and fill out the application form.

How Can I Obtain a Stanbic IBTC Pension Loan?

The good news about this pension company is that you can take out a loan from your pension account if you are temporarily out of employment. Basically, all you have to do is to apply for 25% of your pension funds to take care of your needs during this period. However, you need to be out of a job for at least 4 months to access this loan. Some documents you need to obtain this loan include:

1. The Letter of termination of appointment that your former employer or your letter of resignation.

2. A letter from you asking for a specific percentage of payment from your RSA balance (maximum of 25%). 3. Your Pension fund account lasts three months’ payslips.

4. Bank statement.

5. Birth certificate or a document showing a Declaration of age

6. A Letter from your employer which verifies full payment of all the contributions made to your RSA (for private sector workers).

7. The filled application form (Stanbic IBTC will provide this), and four passport photographs.

What requirements do I need to open a Stanbic IBTC Pension Account?

To complete the registration process, you will need to gather and submit the following documents:

1. One Passport Photograph (white background sized 4”x4”) 

2. Proof of Address

3. Active Bank Statement (within the past 3 months) containing current address

4. Permanent Voters card (PVC)

5. Valid means of Identification 

6. Letter of Employment 

How Can I Download The Stanbic IBTC Mobile App?

To download this app, follow the steps below:

1. Go to Google Play Store or the App Store on your mobile device.

2. Next, search for “Stanbic IBTC app”

4. Lastly, download and install the app

How Can I Contact Stanbic IBTC Pension?

Here is how you can contact Stanbic IBTC pension:

Address: The Wealth House, 1678 Olakunle Bakare Close, Off Sanusi Fanfunwa Street, Victoria Island, Lagos, Nigeria. 

Telephone: +234-1-2716000

Email Address: PensionSolution@stanbicibtc.com

Website: www.stanbicibtcpension.com

Conclusion

The Stanbic IBTC Pension Loan is a loan you can obtain if you have an active Stanbic IBTC Pension account. As long as you meet the specified requirements, this loan is easy to get. To learn how to obtain this loan, just follow the guidelines above.  

You can obtain a comprehensive loan, tailored to your specific needs by using this platform. Basically, it allows you to compare loans from different lenders across Africa, ensuring the best option doesn’t slip through.  

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