Finance
How To Apply For Wema Bank Collateral Free SME Loans
In a bid to help fight against poverty in Nigeria, Wema Bank introduced a collateral-free loan to support Small and Medium Enterprises (SMEs) across the country. In this piece, we will show you how to access Wema bank collateral-free SME loans.
It is crucial to keep in mind that the Wema Bank SME loan is ‘collateral free’, and you can access up to N10,000,000 to meet your short-term business needs. You may also like to check out list of banks offering loans without collateral in Nigeria.
This facility is open to business owners who are in ‘segments’ such as trade, pharmacies, schools, hospitals, clinics and diagnostic centres. Also, the loan is open to both new and existing customers of the Bank, including those doing business with their personal names.
How much loan you can access from Wema Bank
- Businesses that are into trading or general commerce can access up to N5,000,000 loan.
- School owners can access up to N10,000,000.
- Health sector businesses owners like Pharmacies, hospitals, clinics and diagnostic centres can access up to N5,000,000.
Note: the loan is without collateral, and the repayment period is 12 months.
Wema bank has earlier suspended loan repayments for SMEs for 3 months to mitigate the crippling effects of the poverty on small and medium scale business in Nigeria. With this, we can say Wema bank is SMEs friendly bank, feel free to get your loan from them.
Requirements for Wema bank SME loans
- National Identification Number (NIN)
- Bank Verification Number (BVN)
- Valid means of identification
- Business profile and plan.
How to apply for Wema bank SME loans
To apply for Wema bank loan, kindly visit any of the Wema bank branches nearest to you. The online application is yet to activated for SME loan. We will inform you when the online application open.
Wema bank personal loan
In case you need personal loan from Wema bank,
- Download Wema bank personal loan form.
- Print the form and complete the form.
- Submit the form to any Wema bank branch
Gbolade Fabusuyi
October 18, 2023 at 09:36
Good idea,i hope implementation that has been an issue in Nigeria will not be the bane of this scheme.
Akaninyene Ita
September 22, 2023 at 22:34
I need money to assist equipment
Loveth
September 7, 2023 at 04:23
I need money to expend my business
Ejike Mike onyebueke j
August 27, 2023 at 20:55
My business need capital to stand, please I need this very loans
Joshua
June 18, 2023 at 22:45
Adewole
Baffa lauwal musa
April 11, 2021 at 18:51
I need money so that I well increase my business very well and I well returned back your money sinful by the GRES of god thanks not sincerely
Ndirmbita Ayuba Dauda
March 6, 2021 at 07:56
Approved since 03/02/2021 no alert
Loveth
September 7, 2023 at 04:23
I need money to expend my business
ABUBAKAR MOHAMMED
February 10, 2021 at 21:14
I need money because I want to expand my business
Abdulaziz Mohammed adamu
February 3, 2021 at 06:54
I need a loan because of my business to improve