Here you will learn how to successfully apply for Fidelity Bank Development Finance Loan which is one of the four new loan schemes rolled out by the Fidelity Bank PLC for entrepreneurship and entrepreneurs, small and big businesses in Nigeria.
What is Fidelity Bank Development Finance Loan?
The Development Finance Loan is a development loan package designed to assist in financing MSMEs in Nigeria. The loan was conceived and launched by Fidelity Bank PLC because of the successes it recorded in its various interventions in the MSME development atmosphere.
Fidelity Bank is a leading participating Financial Institution (PFI) in the Development Bank of Nigeria (DBN) On-Lending scheme for SMEs and Small Corporates.
Who is Eligible for the Development Finance Loan?
As it is with all banks when it comes to giving loans, so it is with Fidelity Bank PLC loan offers. And by that, we mean there are criteria that you need to meet before you can apply and be considered worthy of this type of loan. Below is the requirement that you must meet to be eligible for this loan.
• To be eligible for this loan, you must be a Medium Scale Enterprise (SME) or Small Corporate owner, doing business in any sector of the Nigerian economy and your business must be well structured.
What is the Loan Structure?
• It is term based loan
• It is for working capital
• It is for asset and expansion finance support
What is the Single Obligor Limit for this loan?
You can get a minimum of N5,000,000 (Five Million Naira) and up to N720,000,000 (Seven Hundred & Twenty Million Naira).
What is the Loan Tenor?
The loan comes with up to 60 month’s tenor.
How to Apply for Fidelity Bank Development Finance Loan
To apply for this loan, please visit Fidelity Bank’s official website at www.fidelitybank.ng/sms-banking/sme-loans-and-advances/ to submit your application. There, you will get other information that we might have mistakenly omitted.
Alright! That was all about how to apply for fidelity bank development finance loan. We will treat the remaining three in the coming articles. Please, share our contents with your friends on your social media platforms so they can benefit.