UNION BANK OF NIGERIA
PERSONAL LENDING
- 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
- Completed application form
- Letter of undertaking from employer
- 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
- Completed application form
- Letter of understaking from employer
- Payadvance
Features
- Annual income range: Minimum N300, 000
- Repayment in 12 months
- Loans available between N25, 000 and 50% of monthly salary
Documents Required
- Completed application form
- Letter of Undertaking from employer
- Proforma invoice
CORPORATE AND BUSINESS LENDING
- 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
- Application form and letter
- Pro-forma invoice
- Board resolution
- Execution of UBN lease agreement
- Credit Bureau report
- Personal guarantee and statement of net worth of the Directors/Proprietors of applicant company with a minimum of 50% equity stake
- Execution of equipment lease and sales back agreement
- 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
- Customer’s application Letter
- Copy of CAC registration
- Board resolution authorizing borrowing (Limited Liability Coy only)
- Receipts of payment or discharge certificates from 3 jobs executed in the past
- Copy of Purchase Order to be financed
- 6 months relationship is required
- 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
- Application letter and form
- Board resolution
- Personal guarantee & statement of net worth of Directors
- Credit Bureau report
- Original copy of the invoice duly accepted by the principal/employer company and endorsed payable to the bank by the vendor (customer).
- Cooperative Lending
Loans offered to cooperatives on behalf of their members to support expansion of micro and small businesses.
Requirements
- Application letter
- Board resolution
- Domiciliation of Cooperative account
- Letter of Undertaking from employer
- Copy of cooperative’s constitution
- 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
- Application letter and form
- Personal guarantee
- Domiciliation of school account
- 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
- Customer’s application Letter
- Copy of CAC registration
- Board resolution authorizing borrowing (Limited Liability Coy only)
- Account statement from other banks
- 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
- Customer’s application Letter
- Copy of CAC registration
- Board resolution authorizing borrowing (Limited Liability Coy only)
- Account statement from other banks