Last Updated on July 1, 2024 by admin
The Polaris Education Loan offers both new and existing private primary, secondary, and tertiary institutions customers of the Bank, access to loans of up to N100 million to meet their various funding needs.
The Credit facilities form part of the lender’s effort to support Nigeria’s vital educational sector by ensuring that schools meet their goals and growth aspirations.
The loan portfolio is designed to meet various school administrative needs: payment of salaries, finance rent, purchase of laboratory equipment, school buses, furniture, books for the library, school renovation and expansion.
Teachers and Parents can also enjoy personal loans for payment of school fees and other needs. The Polaris bank Education Loan Tenor from 90 days to 36 months
You can either get an Overdraft Facility, Asset Financing Facility and Short Term Loan to finance your school.
1. Overdraft Facility
This is an overdraft of 90 days maximum to augment the short term funding need of schools (Nursery, Primary, Secondary schools and Tertiary Institutions) specifically for salary payment and other urgent needs during term end/ school holiday periods
Features:
Maximum loan amount: N100m
2. Asset Financing Facility
To finance school buses, official vehicles and generators (only) with repayment period of up to 36 months
Features:
Maximum loan amount: N100 million
3. Short Term Loan
Term loan with maximum tenor of up to 12 months to finance rent, purchase of laboratory equipment, furniture, books for library, school Expansion (land acquisition and construction) etc
Features:
Maximum loan amount: N100 million
How to apply for Polaris bank Education Loan
To apply for Polaris bank Education Loan, existing and new customers should visit any branch to complete the loan application process or send an email to smebusiness@polarisbanklimited.com for assistance.
For additional information on Polaris Bank’s products and services, please get in touch with Polaris Bank’s Yes Centre on 0700-POLARIS (0700-767-2747) or via email at yescenter@polarisbanklimited.com
