CREDIT PRODUCTS

 

VIBRANT SMALL BUSINESS LOAN

Available only to groups registered with Vibrant MFB.

  • Maximum Loan Amount is N500,000.00
  • Group Solidarity Lending Model.
  • Maximum tenor of 180 days.
  • Interest Rate of 54%pa
  • Other flat rate fees apply.

VIBRANT SME LOAN

Available only to registered enterprises.

  • Maximum loan Amount is N2million
  • Maximum tenor is 180 days
  • Interest Rate is 60%pa
  • Other flat rate fees apply.

VIBRANT SCHOOL GROWTH LOAN

Available only to private schools

  • Maximum Loan Amount is N500,000.00
  • School Fees must be domiciled with the
  • Interest Rate is 60%pa
  • Other flat rate fees apply

VIBRANT ASSET ACQUISITION LOAN

  • Available only for revenue generating assets.
  • Asset financed is collateral for the loan
  • Group Solidarity Lending Model
  • Equity contribution of 20% of asset cost
  • Maximum tenor is 180 days
  • Interest rate is 48%pa
  • Other flat fees apply.
  • Comprehensive insurance is required.
  • Ownership is shared between the customer/Bank until final repayment is made.
  • Invoice(source document) to be obtained from the bank approved vendor.

VIBRANT TRANSPORTATION SUPPORT

Available only for those in transportation business for repairs, refurbishment or replacement of motor cycles, tri-cycles and motor vehicles.

  • Equity contribution of 20% of cost.
  • Maximum tenor is 180 days.
  • Interest rate is 48%pa.
  • Other flat rate fees apply.

VIBRANT SALARY ADVANCE LOAN

  • Salary must be domiciled with the MFB
  • Maximum tenor is 90 days.
  • Not more than 1/3 of net monthly salary.
  • Obtain Letter of awareness from employer.
  • Loan amount determined by monthly salary.
  • Employer to guarantee the loan.
  • Other flat fees apply.
  • Comprehensive insurance is required.
  • Ownership is shared between the customer/Bank until final repayment is made.
  • Invoice(source document) to be obtained from the bank approved vendor.

 

VIBRANT AGRICULTURAL LOAN

Available only for food crops and animal husbandry and to registered co-operatives.

  • Maximum Loan Amount is N500,000
  • Maximum tenor of 360 days
  • Interest rate of 60%pa
  • Other flat rate fees apply.

VIBRANT LPO FINANCE LOAN

  • Only for LPOs issued by blue chip companies.
  • Irrevocable domiciliation of payment.
  • Maximum amount is N2million
  • Maximum tenor is 180 days.
  • Interest rate is 72%pa
  • Other flat rate fees apply.