Business Banking | General | Knowledge Base
General
Can my business apply for a loan even if it's not domiciled in a major city like Lagos?
For now, our SME loan is only for businesses located in Lagos.
What is the minimum loan amount my business can take?
Businesses that meet our minimum monthly revenue can access up to N1 million Naira
Can I still apply for a loan if I have a personal loan or SME loan outstanding with another lender?
Yes, you can if the loan is performing well, and your monthly turnover can service both loans.
What is the minimum monthly revenue required for an SME to qualify for a loan?
For SME loan, your least monthly revenue should be N4 million and above
Does my business need to be registered with CAC (Corporate Affairs Commission) to apply for a loan?
Yes, your business has to be registered with Corporate Affairs Commission (CAC) to confirm if your business has the legal rights to operate in Nigeria.
Popular Articles
Can I get a loan top-up while I'm still repaying my existing loan?
Yes, you can. If repayments terms and conditions allow for it.
How long does it take to get approved for a loan?
It takes up to 24 hours after documentation.
Can I submit my loan application electronically, or do I need to visit a physical branch?
No, you do not need to visit any of our branches to get a loan. You can either visit our centers or place a call to our customer care line.
Do I need a guarantor to apply for a loan?
No, Zedvance Salary loans does not require collateral
Does your company offer SMS or email notifications for upcoming loan repayments?
Yes, we do. We send periodic SMS or emails to individuals when they're close to their repayment date.