Daily loan

The Daily Loan program is specifically tailored to assist micro and small-scale business owners who require immediate financial support for their daily operational needs. This loan is ideal for entrepreneurs involved in daily trading activities, characterized by rapid turnover and a need for liquidity to seize market opportunities.

Loan Details

Loan Amount: Borrowers can access funds ranging from a minimum of ₦10,000.00 to a maximum of ₦200,000.00. This flexibility allows business owners to choose an amount that best suits their individual needs.

Service Charge: The loan carries a competitive service charge of 0.3% per day on the outstanding amount. This transparent fee structure ensures that borrowers are aware of their costs upfront, enabling better financial planning.

Repayment Terms: The repayment process is designed to be straightforward and manageable. Borrowers are required to repay the loan in equal daily installments over a period of 50 working days. This structure allows business owners to align repayments with their daily revenue cycles, minimizing financial strain.

Key Benefits

Quick Access to Funds: The Daily Loan program facilitates swift access to capital, allowing business owners to capitalize on immediate opportunities without lengthy approval processes.

Flexibility: The loan amount and repayment terms are designed to accommodate the diverse financial needs of small-scale traders, making it a suitable option for various business models.

Support for Growth: By addressing the daily working capital requirements of micro and small businesses, the Daily Loan helps entrepreneurs maintain inventory, manage operational expenses, and invest in growth initiatives.

Conclusion

The Daily Loan program is an essential financial tool for micro and small-scale business owners looking to enhance their cash flow and sustain their operations. With accessible loan amounts, competitive service charges, and flexible repayment options, this program empowers entrepreneurs to navigate their daily trading activities effectively and grow their businesses.