KWASU MFB Loan Products – KWASU Microfinance Bank

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KWASU Microfinance Bank

Our activities shall covers primarily; Acceptance of deposit in all forms, Non interest banking, Creation of all permissible credit facilities to stimulates economic activities of our immediate environment, Investment in viable projects like asset financing, Real estate, engage in consultancy services to intending entrepreneurs, and directly involvement in trading activities within the confine and limitation of our memorandum and article of association..

KWASU Group Lending

The obligor member must either live or operate their trade within the same proximity of all their group members.
The loan limit is N300, 000.00 each member
Loan term is 180 days
Processing fee- 2.5% flat
Management fee- 2.5% flat

KWASU Esusu Loan

The customer will be required to make daily repayment from sales proceeds
According to customer’s daily contribution capacity
Loan term is 30 days
Fees is 7%
Personal Guarantee and Affidavit of stock hypothecation to KWASU MFB LTD

KWASU Micro Loan

The loan limit is N500,000.00
Loan term range from 30 to180 days
This shall be in equal weekly or monthly installments
Processing fee- 2.5% flat, Management fee- 2.5% flat
Interest Rate: 3% -4.5% monthly on reducing balance - As the case may be

KWASU Salary Loan

Domiciliation of salary account with KWASU MFB LTD
Standing Order from Kwasu Bursary Department
Three month statement of salary account with KWASU MFB LTD and or other banks
Standing Order from the customer’s commercial bank that operates with our correspondent bank

KWASU Short Term Loan (Advanced)

Domiciliation of salary account with KWASU MFB LTD.
Standing Order from KWASU Bursary Department.
Three months statement of salary account with KWASU MFB LTD and or other bank.
Payslip
Standing Order from customer bank

KWASU Student Loan

This is a loan product targeted at eligible and bonafide student of Kwara State University. It is a product that is intended to assist students in payment of their school fees within approves limit.
The applicant must be a student of Kwara State University
The student must be of good academic standing (2.2 Cumulative GP)
Application letter from the student

KWASU Asset Financing

30% equity contribution from the customer
70% funding is from KWASU MFB LTD.
Maximum limit is N2,500,000
Loan term is 12 months.
Processing fee- 2.5% flat
Domiciliation of daily cash proceeds from the business

KWASU Corporate Loan

The loan tenure should not exceed 12 months
Processing fee- 2.5% flat
Interest Rate: 3% -4.5% monthly on reducing balance - As the case may be.
Domiciliation of account with KWASU MFB LTD.
5% Cash Collateral Deposit

KWASU Agric Loan

KWASU Agric loan enable individual farmers and organization involved in agric business access loans for a variety of uses. These include livestock farmer, crop farmer, feed miller e.t.c.
20% equity contribution.
Loan term is generally longer not more than 12 months

KWASU Festive Loan

A Festive loan product designed to enable business customers to access loan to enhance a variety of business needs during festive period like Easter period, Ramadan period, Ileya festive and December period etc.
5% Cash Collateral Deposit
Personal Guarantee

KWASU Individual Loan

Maximum tenor of 180 days
Processing fee- 2.5% flat
Interest Rate: 3% -4.5% monthly on reducing balance - As the case may be.
Personal Guarantee
5% Cash Collateral Deposit
Mortgage on landed or moveable asset

KWASU Contract/LPO Financing

This is a loan product designed mainly for the contractor handling various projects within university campus financed by the KWASU and the various donor agencies which payment are to be routed through the university bursary department.
LPO Financing - 90 days.

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