PayGo Loan

This loan serves as working capital mainly for SMEs and fast moving consumer goods and services(FMCG).

Features
  • Short term loan of up to 3 months
  • Access to loan of up to N1,000,000.00
  • Competitive interest rate @ 7% on outstanding balance and further down to 6% by 2nd cycle
  • Insured loan of 1%.
  • Admin fee of 1%
  • Commitment fee of 1%
  • 10% Equity contribution
Benefits
  • Addresses the credit needs of SMEs and FMCG
  • Interest applicable only to accessed amount of approved loan limit
  • Easy Loan Procedure
  • Opportunity to control the effective interest rate
  • Opportunity to grow business relationship with Accion MfB
Requirements
  • Prove of business ownership and experience
  • A/C opening and proper documentation required
  • Viable business
  • MSM Entrepreneurs with 12 months experience