APPLY FOR LOAN

LOAN
APPLICATION


We make the process of accessing loans very seamless. Please note, we can only give you a loan if you have an account with us that has been running for at least 6 months.

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LOAN TYPES

SCHOOL FACILITY
LOAN


REQUIREMENTS


  Loan application letter on the school Letterhead.
  Ministry of education provisional approval.
  Certificate of incorporation.
  Cash flow statement of the school.
  Site visitation and verification report.
  Two properly executed personal guarantor form for non-salary guarantors while salary account guanrantor can fill the bank guarantor form except the loan amount is ₦3million and above.
  30% equity contribution incase asset acquisition facility for the school.
  Letter of domiciliation of school fees to the bank.
  Credit bureau report.

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APPLICATION








    By submitting this information you give NEWAGE MICROFINANCE BANK permission to keep your details and use same to verify your claims, contact you and process your loan request.

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    AGRICULTURE
    LOAN


    REQUIREMENTS


      Loan application letter.
      Two properly executed personal guarantor form for non-salary guarantors while salary account guarantor can fill the bank guarantor form except the loan amount is ₦3million and above.
      Cash flow statement of the farm.
      Farm report.
      Site visitation and verification report.
      Agriculture insurance policy of the farm with bank interest noted on it as first beneficiaries (where applicable).
      Credit bureau report.

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    APPLICATION






      By submitting this information you give NEWAGE MICROFINANCE BANK permission to keep your details and use same to verify your claims, contact you and process your loan request.

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      LPO
      FINANCING


      REQUIREMENTS


        Loan application letter for individual customer while on official paper for corporate institution.
        Two properly executed personal guarantor form for non-salary guarantors while salary account guarantor can fill the bank guarantor form except the loan amount is ₦3million and above.
        Copy of the local purchasing order (LPO) from the issuing company.
        Copy of verification letter of the LPO.
        Copy of domiciliation letter of LPO proceeds to the bank verified by the issuing company.
        Credit bureau report.

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      APPLICATION







        By submitting this information you give NEWAGE MICROFINANCE BANK permission to keep your details and use same to verify your claims, contact you and process your loan request.

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        CORPORATE
        LOAN


        REQUIREMENTS


          Loan application letter on the company official paper duly signed by managing director or the prime mover of the enterprise in case of one man business.
          Board resolution authorizing the company to borrow from the bank.
          Certificate of incorporation.
          Memorandum and article of association.
          Company audited financial statement and cash flow statement.
          Two properly executed personal guarantor form for non-salary guarantors while salary account guarantor can fill the bank guarantor form except the loan amount is ₦3million and above.
          Guarantee of the prime-mover/or directors of the company.
          Site visitation and verification of report of the business location.
          Credit bureau report.

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        APPLICATION








          By submitting this information you give NEWAGE MICROFINANCE BANK permission to keep your details and use same to verify your claims, contact you and process your loan request.

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          MICRO
          LOAN


          REQUIREMENTS


            Loan application letter.
            Two guarantors.
            5% - 30% mandatory deposit.

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          APPLICATION






            By submitting this information you give NEWAGE MICROFINANCE BANK permission to keep your details and use same to verify your claims, contact you and process your loan request.

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