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May 27, 2019

UNION BANK OF NIGERIA

 

PERSONAL LENDING

  1. Unionplus

Features

  • Annual income range: N216, 000 – N30, 000,000
  • Repayment between 12-60 months
  • Loans available between N50, 000 and N15, 000,000

Documents Required

  1. Completed application form
  2. Letter of undertaking from employer

 

  1. Unionflexi

Features

  • Annual income range: Minimum N30, 000,000
  • Repayment between 12-60 months
  • Loans available between N5, 000,000 and N50, 000,000

Documents Required

  1. Completed application form
  2. Letter of understaking from employer

 

  1. Payadvance

Features

  • Annual income range: Minimum N300, 000
  • Repayment in 12 months
  • Loans available between N25, 000 and 50% of monthly salary

Documents Required

  1. Completed application form
  2. Letter of Undertaking from employer
  3. Proforma invoice

CORPORATE AND BUSINESS LENDING

  1. Lease Finance

Their financing solution offers flexible loans to facilitate purchasing of equipment for businesses.

Features

  • Available to companies with annual turnover of up to N250, 000,000
  • Spread repayment over a tenor of 48 months
  • Loans available between N500, 000 and N25, 000,000
  • 30% equity contribution required

Requirements

  1. Application form and letter
  2. Pro-forma invoice
  3. Board resolution
  4. Execution of UBN lease agreement
  5. Credit Bureau report
  6. Personal guarantee and statement of net worth of the Directors/Proprietors of applicant company with a minimum of 50% equity stake
  7. Execution of equipment lease and sales back agreement

 

  1. Contract Finance (LPO)

Provides short term funding for jobs issued by bank approved counterparties.

Features

  • Maximum loan amount of N10M
  • Maximum Tenor of 90 days
  • Equity contribution of 30% required.

Requirements

  1. Customer’s application Letter
  2. Copy of CAC registration
  3. Board resolution authorizing borrowing (Limited Liability Coy only)
  4. Receipts of payment or discharge certificates from 3 jobs executed in the past
  5. Copy of Purchase Order to be financed
  6. 6 months relationship is required
  7. Invoice Discounting

Short-term loan to help manage cash-flow position for businesses, backed by future sales invoices.

Features

  • Available to companies with annual turnover of up to N250, 000,000
  • Loans available between N500, 000 and N50, 000,000
  • Full repayment in 90 days

Requirements

  1. Application letter and form
  2. Board resolution
  3. Personal guarantee & statement of net worth of Directors
  4. Credit Bureau report
  5. Original copy of the invoice duly accepted by the principal/employer company and endorsed payable to the bank by the vendor (customer).

 

  1. Cooperative Lending

Loans offered to cooperatives on behalf of their members to support expansion of micro and small businesses.

Requirements

  1. Application letter
  2. Board resolution
  3. Domiciliation of Cooperative account
  4. Letter of Undertaking from employer
  5. Copy of cooperative’s constitution

 

  1. School Aid

A short term loan for schools to cover operations expenses during the school term

Features

  • Available to schools with annual turnover of up to N250, 000,000
  • Repayment over 6 weeks
  • Minimum loan of N500, 000 and maximum of 50% of 6 months turnover

Requirements

  1. Application letter and form
  2. Personal guarantee
  3. Domiciliation of school account

 

  1. Term Loan

Get funding for restocking goods from specific suppliers with the Short Term Finance.

Features

  • Maximum loan amount of N50M
  • Maximum Tenor of 12 months with 90 days clean up cycle
  • Equity contribution of 30% is required

Requirements

  1. Customer’s application Letter
  2. Copy of CAC registration
  3. Board resolution authorizing borrowing (Limited Liability Coy only)
  4. Account statement from other banks

 

  1. SME Overdraft

This product gives you the freedom to overdraw your account up to a set limit. It is suitable for customers involved in the distribution of petroleum products and Fast Moving Consumer Goods (FMCGs).

Features

  • Maximum loan amount of N50M.
  • Maximum Tenor of 12 months. (Renewable yearly).

Requirements

  1. Customer’s application Letter
  2. Copy of CAC registration
  3. Board resolution authorizing borrowing (Limited Liability Coy only)
  4. Account statement from other banks

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