| NAME | AMOUNT AVAILABLE | INTEREST PAYABLE | SAVINGS DEPOSIT |
|---|---|---|---|
| ROSCA | ₦40,000 - ₦200,000 | 6.5% - 8.0% | 10DAYS SAVINGS |
| GROUP LOAN | ₦20,000 - ₦200,000 | 2.5% - 5.0% | 10% OF LOAN AMOUNT |
| MICRO-MINI | ₦100,000 - ₦300,000 | 5.5% - 8.0% | NIL |
| MICRO-PLUS | ₦300,000 - ₦1,000,000 | 5.0% - 8.0% | NIL |
| MICRO-MAXI | ₦1,000,000 - ₦2,000,000 | 4.5% - 8.0% | NIL |
This product is for Artisans and small businesses with daily cash sales that enable them meet up with daily repayment of their loan facility. To access ROSCA loan, you do not need to provide collateral, this brings more flexibility to loan accessibility for businesses owner and services provider who do not have collateral security.
10days contribution of specific amount of money
Loan is equivalent to 20days of your contribution amount
Repayment is structured for 22 workings days
Headway Group lending is the provision of microloans to entrepreneurs and small businesses lacking access to banking and related services. The product is designed for group of market women association or people with similar businesses in a cluster, where several entrepreneurs come together to apply for loans and other services as a group.
Minimum of 5 people per group
Maximum of 10 people per group
Customers with good repayment will enjoy renewal of facility and increment in loan amount after successful 1st loan cycles. (Maximum increment of 50%)
Customers will provide viable and credible guarantor in addition to group/associations’ guarantee.
Each group will have executive officers
All groups must have their meeting in a designated venue once a week.
Disbursement of loan must be on group meeting day (Exception can be considered but the repayment will be on their meeting day)
All business must be verified by group supervisor before disbursement.
Disbursement of loan will be after the loan process has been completed within 24 hours.
Acceptance of new group member must be at group meeting with endorsement of all the group members.
Kindly note that all applications will undergo an on-site assessment by one of our lending staff prior to a committee decision
Are you interested? Simply come to our office and meet our friendly loan officer.
Headway Microfinance Bank Limited offers entrepreneurs and individuals the opportunity to easily access loans in a quick, transparent and efficient manner.
Our expertise assures our clients quality service delivery. Loans currently range from ₦20,000.00 to ₦2,000,000.00 with tenors ranging from 1month to 12months. For larger loan sizes please visit the SME section below
No mandatory deposits/savings and no cash collateral required
No audited financial statements required.
Flexible collateral arrangements depending on loan size (household goods, business equipment, goods in stock, vehicles, property etc.)
Flexible documentation requirements.
Long-standing clients with impeccable repayment record qualify for successive interest rate discounts and even faster loan processing and increase in loan amount
SMS for your monthly repayments
Our salary advance loan helps you meet urgent needs such as payment of house rent, school fees and other family needs. Client can access short or medium term loan up to ₦2,000,000.
Loan ranging from ₦100,000 to ₦2,000,000
Competitive rate of 3.5%
Loan duration ranges from 1month – 12months
Loan disbursement within 24hours of completion of loan application process
Loan disbursement within 24hours of completion of loan application process
Flexible repayment amount
No equity contribution
No transaction fees
Access to top-up or renewal at competitive interest rate
Opportunity to repay loan before expiration at no extra cost
Must reside and work in Lagos or company with Lagos office.
Must be confirmed employee of a company with minimum of 5 years in employment
Proof of employment
Salary must not be less than ₦50,000 for more than 30 days facility tenor
Official ID Card
Valid means of Identification (National ID, Driver License, Voter’s Card or International Passport.
Current utility bill.
Three (3) passport photographs.
Headway Microfinance Bank offers business owners of Small and Medium Size Enterprises the opportunity to access loan facility in a quick, transparent and efficient Manner. Building on our global expertise we assure our clients highest quality service and delivery. Prospective borrowers do not need to have saved any money with Headway Microfinance Bank before applying for a loan, as we do not support forced savings. All that is needed is an existing, viable business and good investment plan.
What sets Headway Microfinance Bank apart is primarily the efficiency and ease of access to credit facilities. Documentation and collateral requirements are significantly more flexible than anywhere else in the Nigerian banking sector, and the processing time is the shortest available within 24hours.
Loans above ₦2,000,000 for your existing business
Competitive interest rate ranging from 4.0% up to 8.0% monthly on flat basis
Competitive management fee
Maturity period is within a month to 12months
Weekly, Monthly, or Bullet repayment mode
Broad range of collateral security accepted
Loan disbursement within 24hours of completion of loan application process
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