Enugu SME Business Support Loan: The Enugu State Government, has set up an initiative via its SME Center, which is set to offer collateral free business loans to SMEs within the state. This SME Business Support Loan has into existence with the collaboration of Enugu state government and Lidya, a digital bank.
The Enugu SME Business Support Loan center was birthed up to facilitate enterprise growth and job creation, and spike widespread economic growth and development within the state. The Enugu SME Business Support Loan center in an initiative capacity building projects which offer a financial support to commercial ventures and investors.
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Loan Details
According to the initiative, the loan is a cash advance which is decided based on the applicants 3 month bank statement. Applicant Businesses will be required to send their 3 months bank statement as a PDF to the loan provider to be able to qualify.
Please note that there won’t be co-signers or guarantors are needed to apply for the loan.
Applicants are to note that the loan is expected to be repaid within 30 days of being received by the applicant. Also, you can also renew your loan application every 30 days. When a client pays his loan timely, the beneficiary can apply for another loan with a longer tenor from Lidya.
According to the Enugu SME Business Support Loan initiative, the 30 day loan has an interest rate of just 3.5%. However, the amount to be repaid by will dependent on what’s advised by Lidya.
Eligibility For Enugu SME Business service Loan.
To eligible for a loan, all businesses must:
Business must be resident and operational in Enugu State.
Have a monthly turnover of at least ₦500,000 (proof in bank statement).
Information That Is Required
Applicant’s full name, residential and business address.
CAC Certificate.
Bank Statement for the last months.
Tax Identification Number (TIN).
Copy of a government-issued photo ID (copy).
Copy of a utility bill.
Details of next-of-kin (name, relationship, address, phone number).
How To Apply For The Enugu SME Business Service Loan
Applicants are to Fill their details in the application portal
You will be contacted by Lidya for an over-the-phone assessment.
Applicants are to Submit the documents required by Lidya.
You will Receive the loan if your business qualifies.
How to Apply for the Enugu SME state service loan
For those who would like to apply for the Enugu State SME Support supoort Loan and you have met the requirements, kindly click here to apply.
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