May 27, 2019




Grow and Expand Your Business. Many small and medium enterprises want to grow and expand. Dealing with ever more complex processes and how these are managed is key to business growth. At Wema Bank, they are passionate about helping your business grow on all fronts. Beyond financial support, they provide SME financing package for working capital, as well as access to select business forums organized by Wema Bank for SMEs.
They pride themselves with deep knowledge needed for growth of small businesses. With Wema you can think big, start small and be sure.

Features and Benefits

  • Rates and Fees: Their rates are highly competitive and they have the best to offer. Their SME loan interest rates are really competitive and with no early repayment penalties, there’s really nothing stopping you.
  • Maximum loan tenor of 36 months
  • Loan Top-up available after 6 months
  • 72 hours loan disbursement


Boost your working Capital. Designed to boost the working capital of an existing business in order to aid its growth.

Features and Benefits

  • Available to business owners that operate a business current account
  • Facility amount starts from N100,000 to a maximum of N1 million
  • Amount loanable is 80% of six-month average credit turnover in business account
  • Facility tenor is between 3 to 12 months and renewable after clean-up
  • Minimal or no collateral is required for the advance
  • Easy access to working capital for business growth
  • Flexible loan repayment tied to cash flow.
  • Competitive interest rate
  • Access to all electronic products of the bank

Documents Required

  1. Completed loan Application Form.
  2. Two passport photographs
  3. Company profile
  4. Executed Personal and/or Corporate Guarantee form by an acceptable Guarantor
  5. Statement of net-worth-duly completed by the Guarantor
  6. At least three (3) months bank account statement from Wema Bank and three (3) months from previous/other bank(s)
    > Other banks’ statement must be on letter head and signed by the bank official with stamps
  7. Residential Utility bill and Customer Visitation form for borrower and guarantor.
  8. Business Utility bill and Customer Visitation form for borrower and guarantor.
  9. Business Questionnaire form (To be completed by the Relationship manger/ officer
  10. Customer should provide a guarantor who will submit undated cheque covering the value of the loan
  11. Customer to submit undated cheque covering the loan valve (where necessary)


Short-term Financing. Save yourself the stress of getting a loan. Get an overdraft with your salary current account.

Features and Benefits

  • Available to existing salary current account holders
  • New customers will have access to overdrafts as soon as the first salary payment is made to the Wema bank salary account
  • Maximum overdraft limit of N250,000
  • Overdraft to be cleaned up monthly, and will be available for a 12 month tenor
  • Overdraft may be renewed at expiry, subject to request from customer
  • Zero processing cost
  • Apply for overdrafts from the convenience of your office
  • Low turnaround time for overdraft disbursement (48 hours)
  • Zero account maintenance charge
  • Competitive interest rate
  • Access to electronic banking products & services

Documents Required

  1. Duly completed loan application form & executed offer section
  2. Letter of introduction signed by an authorized signatory of employer
  3. Irrevocable letter of salary domiciliation (duly executed by employer’s authorized signatory) The signatories must be independently verified by a representative of Wema Bank
  4. Proof of income (3 months’ pay slip or 3 months account statement)
  5. Proof of address (Physical visitation and report by RM) supported with a copy of recent utility bill.
  6. Proof of identity (Staff ID is acceptable but National ID, International Passport or Driver’s License may be required where necessary)

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