Lapo microfinance bank offers you SBL which can run for months and also help your small business grow. Small Business Loan(SBL) is designed to meet the capital needs of small and medium scale entrepreneurs who require more funds for expansion.
Facility range: N50,000 (minimum) to N500,000
(maximum)
Methodology: Individual
Duration: 1-12 months
Grace period: 1 month
No collateral
Access to funds for business expansion
Access to other loan products
Flexible repayment structure
Training on basic financial management, business
planning and customer relations
Low-interest rate
Loan application letter
Duly completed application form
2 guarantors
A valid means of ID (national ID, driver’s license,
voter's card or international passport)
Current utility bill
4 recent passport-size photographs
1. Q: Do I need collateral before I can access this
loan?
A: No. You
do not need collateral as a condition but two guarantors that can stand as your
surety in case of default.
2. Q: Can I re-apply for a higher loan after the
full repayment of the previous loan?
A: Yes.
You can have access to a higher loan depending on the previous repayment
performance.
3. Q: Can I reduce the repayment duration?
A: Yes.
You can reduce the repayment duration to the number of months that suits you
4. Q: Is this loan insured?
A: The
loan is insured against death, fire in the business place or disability