SME Loan
Chase MFB SME Loan package is tailored to help targeted sector to further ease their pain in accessing funds and quickly build their financial capacity, a burden confronting SMEs in Nigeria.
Loan Information
- School loans: this package offers credit facilities to proprietors of government-approved registered schools with needs such as renovation, procurement of school uniforms, payment of staff salaries, etc.
- Business extra loans: this is designed to assist borrowers with immobile collateral to secure loans. This applies to traders, the obligor is expected to provide one guarantor as a substitute for a lack of collateral. Evidence of consistent cash flow is required.
- Asset acquisition loans: this product is designed for the direct purchase of income-generating assets that will boost their income, such assets may relate directly or indirectly to the current line of business e.g. Generator, car, deep freezer, sewing machine, etc.
- Open an individual account
- Provide a statement of account
- Evidence of business or cash book
- Completed loan form
- Verification of business spot etc.
Easy ways to apply for the Group Loan:
Download the Home Loan Application Form
Complete the form and submit at our bank
- Call an Agent
FAQs and generally asked questions
The penalty on loan default is a daily charge of N300 including public holidays, also this will affect your credit rating with the credit bureau agencies, and thus limit your ability to access another facility from the bank and any other financial institution.
You can make:
Cash payment directly to our head office at 11 Michael Olawale Cole Lekki phase 1
Online payments through our correspondent accounts
Bank: sterling bank
Name: Chase MFB
AC No: 0047768917
Bank: Access Diamond
Name: Chase MFB
AC No: 0047768917
NB: State your name as the depositor and ensure you notify us at info@chasemfb.com or call customer care on 090… within 72hrs before the due date.
Yes but this will be subject to additional interest charges and a review of documents showing the ability to repay over an extended period, a written instruction is mandatory.
Write a letter through us to your bank to effect the cancellation of the standing order, the format will be sent to you upon request via info@chasemfb.com
yes, you can have a top-up on your existing loan after 2 months of payment on a 3 a month loan, and 4 payments on a 6 months loan, and 6 payments on a 9 months loan without a default you will also need to provide your updated bank statements and issue new postdated cheques.
You can reapply after liquidation if you have no returned cheques throughout your tenor and there is no record of default.
Please note that placing a standing order on your account is subject to the availability of funds for both of the bank charges and the amount to be debited from your account, visit your bank to ensure that the standing order instruction is properly set up and send a mail to info@chasemfb.com
Ensure you notify us 72hrs before your due date otherwise default charges will apply once your due date picks.
Yes, you can change the date of your repayment, Notify the bank immediately of the occurrence and provide evidence of travel papers or a sack letter, upon the receipt of the evidence the management will review and decide on a loan restructure.
Kindly send an email to info@chasemfb.com and call customer service on 0903042828 a reversal will be applied on confirmation of a double payment this usually takes 24hrs to resolve.
You will receive a text indicating that your loan has been disbursed, if you don’t receive this mail in 24hrs Kindly send an email to info@chasemfb.com and call customer service on 0903042828.
Yes, you can liquidate before the loan matures. Write a letter requesting an early loan closure or send a mail to info@chasemfb.com
Yes, you can pick up your cheques after liquidation
The interest rate is a flat rate, reducing the balance rate is subject to the type of loan and final decision upon management review.
There are no hidden charges however our management fee, insurance, and vat make up 6% of the principal and have been capitalized in the repayment amount for the first month.
