Zenith Bank Loans
Loans
Ideas capable of reshaping our world often require vast sums of money to bring to life. Our loans have never met an idea they couldn’t birth. So bring on the big ideas and let’s change the world together.
CREATIVE INDUSTRY FINANCING INITIATIVE (CIFI)
The Central Bank of Nigeria (CBN) in collaboration with the Bankers’ Committee as part of efforts to boost job creation in Nigeria, particularly among the youth, has developed a Creative Industry Financing Initiative (CIFI) fund.
Eligible activities/businesses
- Fashion
- Information Technology
- Movie Production
- Movie Distribution
- Music
- Software Engineering student Loan
Abridged Terms and Condition of the Scheme
- Fashion
Facility Amount: dependent on project requirement
Tenor: Up to 10 years
Pricing: 9% p.a.
- Information Technology
Facility Amount: Dependent on project requirement
Tenor: Up to 10 years
Pricing: 9% p.a.
- Movie Production
Facility Amount: Up to N30million
Tenor: Up to 10 years
Pricing: 9% p.a.
- Movie Distribution
Facility Amount: Up to N500 million
Tenor: Up to 10 years
Pricing: 9% p.a.
- Music
Facility Amount: Dependent on project requirement
Tenor: Up to 10 years
Pricing: 9% p.a.
- Software Engineering Students
Facility Amount: Up to N3million
Tenor: Up to 3 years
Pricing: 9% p.a.
Documents Required for Disbursement
- Accepted Offer Letter
- 2. Business Plan
- Board Resolution (if corporate)
CBN CIFI CIRCULAR
SME LOANS
Purpose | To finance small and medium enterprises (particularly participants at the just concluded style by Zenith event) |
Sectors | Beauty/Style, Confectionery and Fitness |
Rate | 9% p.a |
Loan tenor | 12 months |
Eligibility |
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Security | Personal guarantee of customer |
OVERDRAFT
Overdraft is a type of loan which allows the borrower/obligor to draw a certain amount in excess of the credit balance in their current account within a specified tenor usually not exceeding Twelve months.
RECEIVABLE DISCOUNTING / INVOICE DISCOUNTING
Receivable Discounting/Invoice Discounting is a loan that allows the borrower/obligor to obtain monetary value (usually discounted) against confirmed invoices for jobs already executed.
LPO FINANCE
LPO Finance is a loan made available to borrowing customers to finance the supply of materials or execution of specific supply contracts to reputable organizations.
IMPORT FINANCE FACILITY
Import Finance Facility is a type of credit availed specifically for the importation of raw materials, finished goods and equipment. This can be made available as Unconfirmed LC, Confirmed LC, Deferred Payment LC, Standby LC and Irrevocable LC.
EXPORT FINANCE FACILITY
Export Finance Facility is a credit availed specifically for the export of agricultural produce or other commodities. This credit can either be availed at the pre-shipment or post-shipment stage of the transaction.
TERM LOAN
Term Loan is a credit (short term, medium or long term) availed to finance specific capital projects expansion or lines of business for a specified tenor. Repayment can be bullet, balloon or instalmental.
LEASE
Lease is specifically finance or sale and lease back financing to support the acquisition of asset or equipment.
BONDS & GUARANTEE
Bonds and Guarantee: These create contingent exposure for the bank. They take the form of instruments issued on behalf of customers to support contracts for supply, construction and performance.
RETAIL LOANS FOR SCHEMES
- Salary Advance – a revolving credit with a clean-up cycle availing up to 60% of your net monthly salary. This is a flexible funding solution that will help address short term financial needs.
- Personal/Consumer loans to finance personal needs.
- Asset acquisition/Car Loans to finance purchase of vehicles or acquisition of household assets.
- Mortgage Facility – This is designed to fulfil your aspiration to purchase your dream house with ease.
For more details on any of our retail loans, kindly call 012787000 or send a mail to zenithdirect@zenithbank.com
Contact us today
Email: zenithdirect@zenithbank.com, call 234-1-2787000, 0700ZENITHBANK or visit the Zenith Bank branch closest to you.