Features

• This facility is designed to assist registered unions groups and bodies access fund from the MFB.
• Loan can be granted on request by the union as a body
• Members of the union can also access fund based on the union guarantee
• The loan amount ranges from N50,000 to N500,000
• Tenor : 3 to 6 months maximum
• Repayment -weekly from the financial activities of the union or other

Documentation Required

• Duly completed application for the loan
• Evidence of Union registration with relevant bodies
• Valid identity card/passport photo
• 2 acceptable guarantors
• Bank verification number
• Postdated Cheques covering the principal and the amortized repayment schedule / standing order from the bank