LOANS

TRADERS RELIEF SCHEME (TRS)

Seedvest Microfinance Bank trader’s relief scheme is basically package for traders, artisans, and people who engage in one form of commercial business activities or the other. There are three forms of (TRS) listed as follows:
trader
  • TRS 1 FEATURES
  • TRS 2 FEATURES
  • TRS 3 FEATURES
  • Compulsory running of account for at least 3-4 weeks.
  • Interest rate: – 4% reducing balance.
  • Processing fees: – 4% upfront
  • Duration: – 5 months
  • Collateral security: – movable assets and or landed property with or without C of O hypothecation of goods in the shop.
  • Guarantors: – Two guarantors with good financial capacity; customers and guarantors signed but undated cheques.
  • Compulsory running of account for at least 3 – 4 weeks.
  • Interest rate: – 5% reducing balance
  • Processing fee: – 5% upfront
  • Duration: – 6months
  • Repayment: – monthly
  • Collateral: – Two guarantors with good financial capacity; customers and guarantors signed but undated cheques.
  • Compulsory running of account for at least 3-4 weeks
  • Interest rate: – 3% reducing balance
  • Processing fee: – 3% upfront
  • Duration: – 3 months
  • Repayment: – weekly
  • Collateral security: – Two guarantors with good financial capacity; customers and guarantors signed but undated cheques.

TRANSPORT SUPPORT SCHEME (TSS)

This is meant for transport business owner that want to carry out repairs on their vehicle or acquire another vehicle for the transportation business.

Features

  • Compulsory running of account for 3-4 weeks
  • Interest rate: – 5% reducing balance
  • Processing fees: – 5% upfront
  • Duration: – 6 months
  • Repayment: – weekly
  • Collateral: – Two guarantors with good financial capacity; customers and guarantors signed but undated cheques.
  • Equity: – for the purchase of vehicle, there must be an equity contribution of at least 40%.
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FARMERS SUPPORT SCHEME (FSS)

This is meant for transport business owner that want to carry out repairs on their vehicle or acquire another vehicle for the transportation business.
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Features

  • Compulsory running of account for 3-4 weeks
  • Target market: – Animal husbandry e.g. poultry

  • Interest rate: – 5% reducing balance

  • Processing fee: – 5% upfront

  • Duration: – 6 months

  • Repayment: – monthly

  • Collateral :- Two guarantors with good financial capacity; customers and guarantors signed but undated cheques.

BUSINESS SUPPORT SCHEME (BSS)

This is a business loan designed for small business owner to support the business working capital.
Features
  • Compulsory running of account for 2-3 weeks
  • Interest rate: – 3% flat
  • Processing fee: – 3%
  • Insurance: – 1.5%
  • Repayment: – weekly
  • Duration: – 4 months
  • Maximum loan:- #250k
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PERSONAL LOAN

This is a loan product targeted at salary earners and those with regular or stable source of income e.g. bankers etc
A photo of young relaxed man leaning on table. Portrait of smiling handsome male. He is sitting at home.
Features
  • Interest rate: – 5% reducing balance
  • Processing fee: – 4% upfront
  • Duration: – 4 months for confirmed staffs and 3 months for unconfirmed staffs
  • Guarantor: – two guarantors, one from place of work and the other from outside place of work.
  • Cheques: Both the customer and guarantors will submit signed but undated cheques.
  • Collateral: – Two guarantors with good financial capacity; customers and guarantors signed but undated cheques.
  • A photo of young relaxed man leaning on table. Portrait of smiling handsome male. He is sitting at home.

SCHOOL SUPPORT SCHEME (SSS)

This is a loan product designed for the private school owners to enable them carry out various forms of development activities, or asset in the acquisition of assets for the school use. E.g. school bus, laboratory equipment etc.
Features
  • Compulsory running of account for at least 3-4 weeks
  • Interest: – 5% reducing balance
  • Processing fee: – 5% upfront
  • Duration: – monthly for 6-12 months as the case may be
  • Special consideration: – long vacation is put into consideration.
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DAILY CONTRIBUTION ADVANCEMENT (DCA)

This is a micro loan designed for the micro business owner with daily income flow
Portrait Of Male Owner Of Gift Store With Digital Tablet
Features
  • Interest: – 5%
  • Processing: – 1%
  • Insurance: – 0.5%
  • Compulsory savings: – 5%
  • Duration:-30days
  • Repayment: – daily
  • Daily-contribution2

AGRIC SUPPORT SCHEME (ASS)

This is the loan target at the arable farmer (crops) in order to support the increase of food production. It must be in group because of cross guarantee. Livestock farmer exclusive.
Features
  • Compulsory running of account for at least 3-4 weeks
  • Compulsory savings of 10% for individual
  • Interest rate:-2%
  • Processing fee:-3%
  • Duration:-10 months
  • Insurance fee: – 2% NOTE: – paying all principal with last month interest on the 10th month. Monthly repayment of interest only.

GROUP LOAN

This is a type of loan that involved gathering of people not less than five (5) and maximum of twenty (20) to form a group before having access to facility.
Features
  • Loan ranges from #10k – #50k for a start
  • Compulsory savings based on amount requested
  • Interest rate: – 3% flat
  • Duration: – maximum 6 months
  • Processing fee:-2%
  • Insurance: – 1.5%
  • Repayment: – weekly

Pricing

Our rates are very liberal and competitive.

  • Prompt loan processing
  • No hidden charges
  • No deposits needed
  • Free SMS