NEW DAWN SMALL BUSINESS LOAN
Features:
- Loans above N300, 000.00 up to N900,000
- Equity contribution of 10%
- Equity contribution of 20% for express loan
- Management fee applicable
- Attractive interest rates for regular or express loans
- Maximum tenure of 12 months
Requirement:
- 2 reputable guarantors required (husband cannot guarantee wife and vice versa)
- Duly Completed Personal Guarantee Form
- Handwritten application form
- Customer must give us passport
- Duly Completed Guarantor’s Form
- Passport Photograph of the Guarantor
- Post-dated cheque Covering Principal and Interest from Borrower and Guarantors
- A Copy of the Guarantors means of acceptable Identification.
- Utility bill of the Guarantor
- Duly filled application Form
- Must be a Customer of the Bank
- Evidence of Existing Business
- Must run account for 8 weeks
- For business premises, shop receipt or evidence of shop ownership required
Target:
- High-end retailers, low end whole sellers, Supermarkets, small hotels, pharmaceutical stores, spare parts dealers, Eateries etc
NEW DAWN MICRO LOAN
Features:
- Loans from N50, 000.00 up to N300, 000
- Maximum tenure of 10 months
- Equity contribution of 10%
- Equity contribution of 20% for express loans
- Management fee applies
- Attractive interest rates for express and regular loans
Requirement:
- Duly Completed Personal Guarantee Form
- Handwritten application
- Passport Photograph of the Guarantor
- Post-dated cheque Covering Principal and Interest from Borrower and Guarantor required
- A Copy of the Guarantor’s Form of Acceptable Identification.
- Duly filled application Form
- Must be a Customer of the Bank
- Evidence of Existing Business
- Must run account for 6 weeks
Target:
- Retailers and micro-traders.
NEW DAWN MEDIUM LOAN
Features:
- Loans from 1M and above
- Management fee applicable
- Equity contribution of 20% for express loans
- Equity contribution of 10% for regular loans
- Credit life assurance applicable
- Attractive interest rates for regular and express loans.
Requirement:
- Duly Filled Loan Application Form
- Handwritten application
- Duly Completed Personal Guarantee Form
- Duly Completed Guarantor Form
- Board Resolution for the Loan
- Duly Filled KYC Form
- Realizable Collateral Required
- Must be a Customer of the Bank
- Evidence of Existing Business
- Must run account for 6 weeks
- Post-dated cheque Covering Principal and Interest from Borrower and Guarantor required
Target:
- Supermarkets, wholesalers, hotels, schools, hospitals, etc.
NEW DAWN ‘my people’ LOAN (GROUP LOAN)
Features:
- Loans from N50,000 per member
- Compulsory weekly savings: Minimum of N200.00 dependent on the loan amount
- Interest of 4% per annum on the savings
- Term: 3-6 months and renewable upon satisfactory performance.
- Attractive interest rate
- Management fee applicable
- Repayment mode; weekly (lump sum of savings and loan repayment)
- CBN Interest draw back scheme applies for Agric groups and the Agric commodity must be insured with NAIC.
- Savings serve as security
Requirement:
- Duly Filled Individual and Group Loan Application Forms
- Handwritten application form
- Evidence of Cash inflow and savings
- Third Party Guarantee
- Members cross guarantee forms
- Duly Filled Account KYC Form
- 2 Recent Passport Photographs of all members
- Photocopy of a Valid Identity Card ; Permanent Voters card, National ID, Driver’s License or International Passport. (Original must be Sighted).
- Must have the Account for 5 Weeks
- Members: 5 -10 (should have officials like president, treasurer and secretary)
- Ages: Adults and as long as you have a means of livelihood
Target:
- Cooperatives and other informal groups
DASUSU LOAN
Features:
- Designed for DASUSU customers
- Loan from N30, 000 to N300, 000
- 1 and a half day taken as interest
- Equity Contribution of 10 days savings
- Daily repayment
- Tenor of loan is 1 month cycle
- Penalty charge for default applicable
- Loan can be renewed upon satisfactory performance
Requirements:
- Duly Filled Loan Application Form
- Duly Completed Personal Guarantee Form
- Duly Completed Guarantee form for the guarantor with post-dated cheque
- Passport Photograph of the Guarantor and borrower
- A Copy of the Guarantors’ Acceptable Identification.
- Evidence of Existing Business or sustainable means of income
- Shop Rent Receipt
Target:
- Designed for DASUSU members only
DASUSU PLUS
Features:
- Designed for DASUSU customers
- Loans above N300, 000 to N500, 000
- 1 and a half day’s contribution taken as interest per month
- Equity Contribution of 10 days savings
- Daily repayment
- Maximum Tenor of loan is 3 months cycle
- Penalty charge for default applicable
- Loan can be renewed upon satisfactory performance
Target:
- Traders, Individual with Cash Flow (e.g. Salary Workers, Youth Corpers) and Companies
- Designed for DASUSU Customers (Individuals and Groups only)
OVERDRAFT FACILITY
Requirements:
- Customer must have operated a current account for a minimum of 2 months
- For express overdraft from 7% (on a reducing balance)
- The account must have an acceptable amount of turnover on transactions
- Customer must present a minimum of 2 reputable guarantors
- Acceptable guarantors required
- For overdraft interest and the admin charge applicable
- Acceptable amount of turnover on transactions mandatory
- Customer might be expected to present collateral, which may vary from company shares, landed property etc. This is dependent on the overdraft amount and terms of repayment
- For Salary workers a maximum of 30% of their Monthly Salary; subject to management discretion
- Maximum duration of 90 days
Benefits:
- It covers short term financing requirements
- Interest is paid only on the amount overdrawn
- It allows for flexible usage of funds
Target:
- Traders, Individual with Cash Flow (e.g. Salary Workers, Youth Corpers) and Companies
PERSONAL LOANS
Salary Earners
Features
- Loans from N50,000.00 to N1,000,000.00
- Management fee applicable
- Attractive interest rate
Back to School Educational Empowerment
Features:
- Loans from N50,000.00 to N1,000,000.00 for the payment of school fees
- Loans only for civil servants and loan amount to be determined by their salaries
- Repayment Mode: Termly repayment (3 months)
- Management fee applicable
- Attractive interest rate
- Money to be paid directly to the school
Requirement:
- Duly Filled Loan Application Form
- Handwritten application form
- Duly Completed Personal Guarantee Form
- Duly Completed Guarantee form for the guarantor
- Passport Photograph of the Guarantor
- Post-dated cheque covering principal and interest from guarantor
- A Copy of the Guarantors Acceptable Identification.
- Evidence of Cash flow or source of repayment
- Must be a Customer of the Bank
- Must run account for 6 weeks i.e. for business people
- Salary or contract payment domiciliation with the bank
Target:
- Traders, Individual with Cash Flow (e.g. Salary Workers, Youth Corpers) and Companies
NEW DAWN ‘Helping Hands’ LOAN
Features:
- Designed for high net worth guarantors who want to empower people
- Interest rates and management fees negotiable
Requirements:
- Guarantors and borrowers must open account with the bank
- MOU between the bank and the Guarantor concerning the empowerment scheme
- Borrowers must be introduced by the guarantor
- Duly Filled Guarantor Form
- Duly filled loan application forms by borrowers
- Hand written application
Target:
- Traders, Individual with Cash Flow (e.g. Salary Workers, Youth Corpers) and Companies
NEW DAWN ‘WOMAN’
Features:
- Designed for economically active poor women in our communities
- Loan from N10, 000 to N50, 000
- Management fee applicable
- Attractive interest rate
- 3 to 6 months weekly repayment
Requirements:
- In the case of a widow evidence of demise of the spouse
- Letter of introduction from village head or community leader / programme of death ceremony.
- Duly Filled Loan Application Form
- Duly Completed Personal Guarantee Form
- Letter of Guarantee from Guarantor
- Duly Completed Guarantee form for the guarantor
- Passport Photograph of the Guarantor
- A Copy of the Guarantors Acceptable Identification.
- Must be a Customer of the Bank
- Evidence of Existing Business
- Must run account for 6 weeks
Target:
- Traders, Individual with Cash Flow (e.g. Salary Workers, Youth Corpers) and Companies
NEW DAWN AGRIBUSINESS LOAN
Features:
- We offer structured agricultural loans taking into consideration, the seasonal peculiarities of agric business.
- This will be done in partnership with the CBN Credit Agricultural Guarantee Scheme
- Borrower must enrol with the Nigerian Agricultural Insurance Scheme.
- For full repayment of the loan within the loan tenor the customer is entitled to 50% of interest paid to the bank.
For further details, customers are advised to contact us
