Loans

Z-Woman

Z-Woman is our loan product for female owned businesses for all sectors primarily geared toward growing our SME sub-sector and diversifying our customer base. 

Eligibility
Female owned businesses with shareholding of 50% or any majority shareholding provided it's owned by a woman.

Purpose
Business Expansion (Working Capital Requirements, Purchase of Raw Materials, Raw Materials & Infrastructure upgrade)

Sectors
Beauty/Style, Confectionery, Fitness, Agriculture & Others

Rate: 16% p.a

Maximum Loan Amount: N10M

Loan tenor:  12 to 24 months

Repayment
Monthly or quarterly repayments in line customer’s cash flow from sales/collections into account with Zenith Bank

Management Fee: 1% flat

Security
Acceptance of the BVN covenant, Personal guarantee of customer, Insurance, Positive Credit Checks, and Company Profile

How to Apply
To apply for Z-Woman Business Package, simply visit the nearest Zenith Bank branch.

Enquiries
For more enquiries, kindly send an email to agentbanking@zenithbank.com

MSME

The SME Sub-KD/Sub-Dealer Finance Scheme enables businesses access working capital for inventory purchase from Key Distributors of major FMCGs, to drive up sales targets, increase volume of their business as well as other expansion needs.

Eligibility

Sub-KDs of the listed Key Distributors (list attached below)

Sub-KDs meeting at least N50m in average six months’ turnover.

Purpose

Business Expansion (Working Capital for Inventory Purchase)

Sectors

Food, Bakery & Confectionery

Beauty, Style & Fashion

Health & Fitness

Rate: 19% p.a

Maximum Loan Amount: N5M

Loan tenor:  12 to 24 months

Repayment

Flexible repayments in line customer’s cash flow from sales/collections into account with Zenith Bank

Management Fee: 1% flat

Security

Acceptance of the BVN covenant, Personal guarantee of customer, Insurance, Positive Credit Checks and Company Profile

How to Apply

To apply for the Zenith SME loan, simply visit the nearest Zenith Bank branch and speak to any of our relationship managers.

Enquiries

For more enquiries, kindly send an email to sme@zenithbank.com or zenithdirect@zenithbank.com

• Salary Advance - a revolving credit with a clean-up cycle availing up to 60% of your net monthly salary. This is a flexible funding solution that will help address short term financial needs.

• Personal/Consumer loans to finance personal needs.

• Asset acquisition/Car Loans to finance purchase of vehicles or acquisition of household assets.

• Mortgage Facility – This is designed to fulfil your aspiration to purchase your dream house with ease.

For more details on any of our retail loans, kindly call  012787000 or send a mail to zenithdirect@zenithbank.com

APPLY NOW

Education is the bedrock of social and economic development and our education loan scheme is designed to provide short term funding to enable parents/guardians 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 child/ward’s school.
• Maximum tenor of 3 months (Junior School) , Maximum tenor of 9 months (Tertiary Institution)

REQUIREMENTS

• Completed Application Form
• Parent/guardian must have salary account domiciled with the bank.
• Child/ward must must have an account with the bank.
• Invoice of school /tuition fees

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

1. Fashion
2. Information Technology
3. Movie Production
4. Movie Distribution
5. Music
6. Software Engineering student Loan

 Abridged Terms and Condition of the Scheme

1. Fashion

Facility Amount: dependent on project requirement
Tenor: Up to 10 years
Pricing: 9% p.a.
 

2. Information Technology

Facility Amount: Dependent on project requirement
Tenor: Up to 10 years
Pricing: 9% p.a.
 

3. Movie Production

Facility Amount: Up to N30million
Tenor: Up to 10 years
Pricing: 9% p.a.
 

4. Movie Distribution

Facility Amount: Up to N500 million
Tenor: Up to 10 years
Pricing: 9% p.a.
 

5. Music

Facility Amount: Dependent on project requirement
Tenor: Up to 10 years
Pricing: 9% p.a.
 

6. Software Engineering Students

Facility Amount: Up to N3million
Tenor: Up to 3 years
Pricing: 9% p.a.
 

Documents Required for Disbursement

1. Accepted Offer Letter
2. 2. Business Plan
3. Board Resolution (if corporate)

CBN CIFI CIRCULAR

Overdraft is a type of loan which allows the borrower/obligor to draw a certain amount in excess of the credit balance in their current account within a specified tenor usually not exceeding Twelve months.

Receivable Discounting/Invoice Discounting is a loan that allows the borrower/obligor to obtain monetary value (usually discounted) against confirmed invoices for jobs already executed.

LPO Finance is a loan made available to borrowing customers to finance the supply of materials or execution of specific supply contracts to reputable organizations.

Import Finance Facility is a type of credit availed specifically for the importation of raw materials, finished goods and equipment. This can be made available as Unconfirmed LC, Confirmed LC, Deferred Payment LC, Standby LC and Irrevocable LC.

Export Finance Facility is a credit availed specifically for the export of agricultural produce or other commodities. This credit can either be availed at the pre-shipment or post-shipment stage of the transaction.

Term Loan is a credit (short term, medium or long term) availed to finance specific capital projects expansion or lines of business for a specified tenor. Repayment can be bullet, balloon or instalmental.

Lease is specifically finance or sale and lease back financing to support the acquisition of asset or equipment.

Bonds and Guarantee: These create contingent exposure for the bank. They take the form of instruments issued on behalf of customers to support contracts for supply, construction and performance.