Esusu Loan

Features

It is a daily contribution

Minimum of N500 daily

Address Verification

KYC

Requirements

1 passport photograph

Any means of Identification

Recent Utility Bill within 3 months

Benefits

Advance Payment

Esusu Loan

Features

Daily collection of savings

Flexible daily repayment

2% processing fees (upfront)

0.5% retail insurance (upfront)

Maximum limit of N50, 000 per Tenure, increase based on performances and cash flow

Instant value at collection points

Tenure: Maximum of 60 days

Address Verification

KYC

Requirements

Consistent daily saving for 10days

2 passport photographs

Any means of Identification

Recent Utility Bill within 3 months

10% equity contribution

Benefits

Access to loan

Loan

Features

Account Holder

Maintain running Account

Requirements

Introduction letter from employer for account opening

Paying slip

Must be a staff at least for 6 months

Appointment letter

Confirmations of appointment

Salary domiciled with Pointone Mfb

2 guarantors from his working place and 1 of the guarantors must be a superior to the borrower

Benefits

Access to loan Facility

Asset Loan

Features

Open account with Pointone Micro Finance

Equality Contribution: 30% of cost of assets

Assets acquire in Bank’s name

Requirements

Loan request letter

Comprehensive insurance for moveable assets such as tricycles, motorcycles etc

Cost of maintenance born by the customer

Take possession after full payment

Benefits

Access to loan Facility

Business Loan

Features

Account Holder Must has existing business/own a shop

The customer must be in the business

Amount to avail/apply must be based cash flow and stock worth

Interest rates: 72% per annum on reducing balance i.e 6% per month on reducing balance

2% management fees

1% admin fees

1% Insurance fees

10% equity Contribution

Maximum of 6 months

Monthly repayment

Maximum of N500, 000

Requirements

Loan request letter

6 months statements of account from other banks

Postdated cheque

2 guarantors and the guarantor must have a shop and use the stock in the shop as a guarantee

Stock hypothecation must be filled with value of stock inside the shop

Physical collateral must be provided the worth/value depends on the amount applied for.

Benefits

Access to loan Facility

Business Loan

Features

Maintain an account with Pointone Mfb

Must have been collecting loan from Pointone Mfb at least 3 cycles before graduating to SME

Must be an existing business

4 % per month on reducing balance

2% management fees

1% admin fees

10% equity Contribution

Maximum of 6 months

Monthly repayments

Maximum of N2, 000,000

Verification

KYC

Requirements

6 month statement of account

Physical collateral and valuation report on the assets

2 guarantors

Postdated cheques

Stock hypothecation form must be filled

Benefits

Access to affordable loan Facility

Business Loan

Features

Available as a group loan lending to members

Free empowerment training for group members in account bookkeeping.

Bulk uniform repayments

Internal and external guarantors

Minimum of 5 to 10 people in a group

4% interest rate of reducing balance

Processing fees 1% (upfront)

1% of admin fees (upfront)

1% of insurance fees (upfront)

10% of equity contribution

16 weeks

Weekly repayment

maximum of N I00, 000 per individual.

Requirements

Membership ID card.

Must have been a financial member for minimum of 6 months.

Has account for both individual and association group account.

Group Exco’s must approve the loan disbursement schedule

Complete individual forms, I internal guarantor, I external guarantor,

2 passport photographs,

utility bill of each group member and recent utility bill for the place of the meeting.

Address verification of each members business.

Benefits

Access to affordable loan Facility

School Loan

Features

Available for school owners.

The school must be fully register

Maintain an account

School fee domiciled with Pointone Mfb

To finance overhead running expenses

Not for building projects

Disbursement at the beginning of the term

4% per month on reducing balance

1% management (upfront)

1% insurances fees (upfront)

10% equity contribution.

3months

Monthly repayment

maximum of N1000, 000

Requirements

Numbers of pupils admitted in the last 3 years

School account records for 12 month

Postdated Cheque

2 Guarantors

6 months statement of account from other banks

Physical collateral

Benefits

Access to affordable loan Facility

Project Financing

Features

Maintain corporate current account with point one MFB.

Interest rates; prime lending rate (PLR) plus one

1% of management fees (upfront)

1% admin fees (upfront)

1% insurance fees (upfront)

Requirements

Loan request letter

Acceptable collateral to secure loan

6 months statement of accounts

2 guarantors

10% equity contribution

Copies of LPO/ Award letter / invoice

Domiciliation letter

Benefits

Access to affordable loan Facility