Business Banking | Loan Management | Knowledge Base
Loan Management
How can I be eligible for more loan amounts?
By following these two conditions; 1. Continuous adherence to processing sales transactions through the business account shared with us. 2. Prompt repayment of active loans before and on due date
Are there other fees attached to my loan processing?
Yes, the admin fee of 1% is factored into the total loan amount
Can my loan repayment be made before the due date?
Yes, your loan repayment can be made before the due date. It is advisable to do this as it improves your credit rating.
What is the minimum loan amount my business can take?
Businesses that fall into our interested business lines can take a minimum of 1 million Naira
In case of business closure, what steps do I need to take regarding my outstanding loan balance?
In this case, it is advisable to pay off your outstanding loan before closure.
What happens if my business needs to restructure its loan due to unforeseen circumstances?
You will need to contact your account officer to discuss this.
Does your company offer loans specifically for financing the purchase of equipment or machinery for my business?
Our SME loan can be for inventory purchase, asset financing or operational cost for the business.
Can I get assistance from a loan officer during the application process to ensure I'm applying for the right loan product?
Yes, you can request the assistance of a sales officer during your application.
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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.