ESAN PERSONAL LOAN FOR CORPORATE
This facility is structured to provide easy/quick cash to the customer falls in to (EPLFCI). The Customer opens an account with Esan microfinance bank limited.
An application is done in writing from the Customer to the bank stating the purpose for loan with statements of Cash-flows. The customer is required to make contribution upfront for Management and Processing fees. All necessary documents given to Customer includes:
(a) Account Opening Forms
(b) Loan Application Forms
The Customer executes the account opening forms and the loan application forms, affix recent passport photographs and attached copies of the followings:
(c) Copy of identification: National ID card, Driver`s license.
(d) Copy of recent resident utility Bill.
(e) A2 Guarantors and the guarantor`s valid I.D and recent Utility Bill.
Pricing: 3% flat reducing balance + 1%Processing fee and 1% Monthly Monitoring fee
The customer is required to make contribution upfront for Management and Processing fees.
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ESAN MICRO LEASE FACILITY This facility which is targeted at Individuals, Associations, Staff of reputable organizations can acquire assets of their choice with easy.Through the product individuals can pick up a whole range of household assets, fairly used cars, furniture, laptops, Computers, Ipads, generators, office equipment, household equipment.
(1) The Customer opens an account with Esan microfinance bank limited.
(2) An application is done in writing from the Customer to the bank stating the equipment for lease with a copy of profoma invoice.
The customer is required to make 20% none refundable contribution upfront.
The bank make up the 80% and purchase the equipment and remain the rightful owner until full payment is made.
The mark up cost 3% flat rate Reducing balance of the 80% fund provided by the bank.
1% Processing fee upfront and 1% Monitoring fee Monthly.
Repayment is Monthly, but customers are encourage to make weekly deposit.
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ESAN SMALL AND MEDIUM ENTERPRISE LOAN
This product is structured to provide easy/quick capital to that customer falls in to (ESME). The Customer opens an account with Esan microfinance bank limited.
An application is done in writing from the Customer to the bank stating the purpose for loan with statements of Cash-flows.
The customer is required to make contribution upfront for Management and Processing fees.
All necessary documents are given to Customer these includes:
(a) Account opening forms
(b) Loan application form
The Customer executes the account opening forms and the loan application forms, affix recent passport photographs and attached copies of the followings:
(c) Copy of identification: National ID card, Driver`s license.
(d) Copy of recent resident utility Bill.
(c) Two Guarantors and the guarantor`s valid I.D and recent Utility Bill.
Pricing: 3% flat reducing balance + 1% Processing fee and 1% Monthly Monitoring fee.
The customer is required to make contribution upfront for Mgt and Processing fees.
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ESAN DAILY CAPITAL ESUSU LOAN
This product is structured to provide easy/quick capital to the customer (Traders, Transporters, and artisans etc ). It is a facility account specifically designed for customer with guarantee daily cash flow.
(i) Customer opens an account with Esan microfinance bank limited.
(ii) ATM card is mandatory and will be processed for customer and issued.
(a) Two recent passport size photographs.
(b) A photocopy of your staff ID card and National ID/Drivers’ License
(c) Copy of a recent Utility Bill
(iii) Customer makes constant daily contribution for 5 days and sum totally 25 fold of daily contribution is advanced as loan on the 6th day while the customer continues daily contribution for repayment.
(iv) 7% flat rate is deducted upfront on the sixth day before customer makes withdrawal on disbursement.
(v) Facility is usually in multiple of =N=12,500.00, =N=25,000.00, =N=50,000.00, =N=75,000.00 and maximum limit =N=100,000.00. Tenure: 30 to 60 days.