Get small loans, anywhere, anytime.

How much do you want to borrow?

How Long do you want the loan for?

How it works

Get your loan right now!

1

MAKE A LOAN REQUEST

Say farewell to pointless printed material or squandering time in bank lines. On account of our 100% online administration, you can be affirmed for a credit in minutes.

Utilize our element sliding bars to choose precisely the amount of cash you require and for to what extent. We'll tell you precisely the amount you'll need to reimburse.

2

INTRODUCE YOURSELF

We'd like to become acquainted with you better. Round out our brief application structure with your data and we'll survey instantly.

Your points of interest are protected with us.

3

MONEY IN YOUR ACCOUNT

Once affirmed, your financial balance is immediately attributed and you're ready!

If your application is unsuccessful, we will inform you of the reason(s) as you may still be eligible for a loan.

4

REPAY YOUR LOAN

Choose whether you wish to make a development reimbursement of your advance or have it charged straightforwardly to your charge/Visa when due.

Setting aside a few minutes reimbursements awards you access to higher credit limits for your next advance.

Frequently Asked Questions

Do you offer loans to business people?

Our products are tailored for people who have paid employment. But one of the great things about us is our flexibility where your requirements are concerned, so if you meet our conditions as a business owner, you can access our loans. .

How fast can I get the money after applying?

After the submission of all necessary documents, the money will be transferred to you no later than 24 hours

What are the procedures for getting a loan?

Simply complete our loan application form and we will get in touch with you within minutes.

Do I have to move my salary account to your organization?

No, this is not necessary. Repayments are made through post-dated cheques or transfers and deposits into our account. You can also place a direct debit instruction on your account

Where clients have challenges meeting their monthly repayment, what options are available to them?

Upon meeting certain pre-conditions, clients are allowed to restructure their repayments to terms suitable to them and the Company. The Company has to be pre-notified of the intention to restructure and the restructure terms agreed to by both parties

What profile of guarantors do you require for bridge finance transactions?

A corporate worker with a reputable organization who is of a level not lower than Assistant Manager

Are clients allowed to service more than one facility at a time?

No. Before a fresh facility is granted, clients are required to liquidate outstanding obligation on running facilities, if any

When is a repayment said to be in default?

A default is recognized when a repayment is left unpaid two days after the due date

What is your maximum duration?

You can get a loan for up to 12 months

Do I have to come to your office to apply for the loan?

No, you do not. Everything will mostly be conducted online.

How are repayment dates structured?

Repayment dates are structured on a 30 day cycle from the date of disbursement. Actual payment dates are however flexible and usually structured to suit your cash flow

What is the maximum amount you can advance a client?

This depends on the type of loan being requested. We can however advance as much as N1 million where you fully meet the requirements. For high sums, contact us.

What are DSR and DIR?

DSR is Debt Service Ratio, and this determines the maximum amount the Company should be exposed to you based on your net monthly income. DIR is Debt to Income Ratio, and it shows the percentage of your monthly income being serviced on debt obligations

How are your rates structured?

Our rates are the cheapest in the market, allowing you to repay on reducing balance, reducing the overall effective rate or cost of funds to you

How are the rates applied?

The rates can be applied as any of the following:
Equal reducing balance, where principal and interest elements are distributed to reflect equal payments monthly

Monthly interest repayment, where the interest element alone is serviced initially then the principal sum and interest are repaid on liquidation

Staggered repayment, where you have the choice of how much you want to repay monthly in the duration of the loan

What is reducing balance method?

This is a repayment method where you pay a portion of the principal amount up front, ensuring very minimal interest payment

Is there any penalty for early repayment or liquidation?

No. Only the interest to accrue on the facility as at the intended early repayment or liquidation date is calculated and applied. Meaning, you would only pay the interest accrued as at the intended pay down date

Can I invest in VFD Microfinance Bank ?

We are always willing to discuss new investments.