Last Updated on July 1, 2024 by admin
Bank loans enable entrepreneur to finance a large purchase or obtain operating capital and funds for business expansion that they can’t afford upfront.The most fundamental characteristics most prospective lenders will concentrate are Credit history,Cash flow history and projections for the business,Collateral available to secure the loan and Character
Before pursuing a loan to help cover your big move, consider whether your income will enable you to pay off your loan balance. This consideration will help you avoid the added stress of paying off your loan.
From time to time in life and business, we find ourselves needing a little or a lot more money than we have to meet certain pressing financial goals. At Zenith Bank their loan offerings provide a fall-back position to secure the funds you need.
Also read: How to Apply for Zenith bank and FCMB Bank salary advance loans
In this article we shall discuss all the loan facility offer by zenith bank which include the following:
1.MSME LOANS
2.RETAIL LOANS FOR SCHEMES
3.RETAIL LOANS FOR NON-SCHEMES
4.EDUCATION LOAN
5.CREATIVE INDUSTRY FINANCING INITIATIVE (CIFI)
6.OVERDRAFT
7.TIMELESS LOANS
8.RECEIVABLE DISCOUNTING / INVOICE DISCOUNTING
9.LPO FINANCE
10.IMPORT FINANCE FACILITY
11.EXPORT FINANCE FACILITY
12.TERM LOAN
13.LEASE
14.BONDS & GUARANTEE
15.Z-WOMAN BUSINESS PACKAGE (SME LOANS)
Most of Zenith bank loans are only available to existing customers and the bank rewards those with qualifying credit history.
Z-Woman business package sme loan
The loan is designed for female who is into Beauty/Style, Confectionery, Fitness, Agriculture & Others that intend to Expansion their business (Working Capital, Purchase of Raw Materials & Infrastructure upgrade)
The Maximum Loan Amount: N100 with 12 to 24 months Loan tenor at Rate: 9% p.a
Security
Acceptance of the BVN covenant, Personal guarantee of customer, Insurance, Positive Credit Checks, and Company Profile
Read:How to Apply for Polaris/Skye Bank Salary advance Loan
RETAIL LOANS FOR SCHEMES
Zenith bank retail loan comprises of Salary Advance, Personal/Consumer loans to finance personal needs, Asset acquisition/Car Loans and Mortgage Facility
ZENITH BANK TERM LOAN
This zenith bank short term, medium or long term credit which availed to finance specific capital projects expansion or lines of business for a specified tenor.
CREATIVE INDUSTRY FINANCING INITIATIVE (CIFI)
The Central Bank of Nigeria (CBN) in collaboration with the Bankers’ Committee as part of efforts to boost job creation in Nigeria, particularly among the youth, has developed a Creative Industry Financing Initiative (CIFI) fund.
Eligible activities/businesses
Fashion
Information Technology
Movie Production
Movie Distribution
Music
Software Engineering student Loan
EDUCATION LOAN
Education is the bedrock of social and economic development,the zenith bank education loan scheme is designed to provide short term funding to enable parents/guardians to pay tuition fees for their children/wards.
FEATURES
Minimum Facility amount N100,000
Maximum Facility amount N5,000,000
School fees will be paid directly to the child/ward’s school.
Maximum tenor of 3 months (Junior School) , Maximum tenor of 9 months (Tertiary Institution)
REQUIREMENTS
1. Completed Application Form
2. Parents/guardians must have a salary account domiciled with the bank.
3. The Child/ward must have an account with the bank.
4. Invoice of school /tuition fees
How to apply for Zenith bank loan
To apply for any Zenith bank loan Package, simply visit the nearest Zenith Bank branch.
