MKOBO LOANS

SME Loans

Their SME loan is suitable for Small and Medium businesses (CAC registered or unregistered) who have been operating for a minimum of 12 months. The loan can be used for working capital, stock and inventory purchase, business growth etc. You can apply online 24hrs and the process is very simple, convenient and straight forward.

Features

• Borrow from N51,000 – N500,000
• Competitive interest rates
• Low Processing & Admin fee
• Maximum loan term of 6 months
• Repayment via direct debit or postdated cheques.
• Very quick turnaround, we aim to turn business loans around within 3 working days.

Requirements (Applicant)

1. 1 recent passport photo
2. Must have been in current business for a minimum of 12 months
3. Must provide a valid official ID (International Passport, Driver’s License, National ID or Voters Card)
4. Must provide one proof of home address in the form a utility bill dated within last 3 months.
5. Must provide one proof of business address in the form a utility bill dated within last 3 months or receipt of rent payment.
6. Must have a clean Credit record
7. Must provide most recent 6 months bank statements with official stamp of the bank.
8. Must provide cheque leaflets or suitable collateral to cover loan repayment
9. 1 Guarantor required, see requirements below

Requirements (Guarantor)

1. 1 recent passport photo
2. Must provide valid work ID (If Employed)
3. Must provide a valid official ID (International Passport, Driver’s License, National ID or Voters Card)
4. Must provide one proof of address in the form a utility bill dated within last 3 months.
5. Must have a clean Credit record
6. Must provide most recent 3 months bank statements with official stamp of the bank.
7. Must provide cheque leaflets to cover the total loan repayment

Responsible Lending

As responsible lenders they promote financial inclusion and take reasonable steps to ensure the following;

1. The amount of credit requested by the Customer is easily repayable from their monthly income.
2. They take into account any other loans or debt the borrower may already have.
3. They will also consider the purpose of the loan.
4. Validate and provide information available on the Customer to the relevant Credit bureau agencies
5. Incorporate foreseeable changes in the Customer’s situation into their lending model

Their aim is to help Employees meet short term emergency needs  who are underserved by the Commercial banks, by providing affordable and accessible loans.

How to Apply

• Call them on 0700 000 65626 | 081 425 28301 | 0908 0640 4444
• You can also email them at info@mkobo.com.ng
• Once they receive your fully completed application and documents they will process your loan immediately.
• Offer letter will be sent to you once approved stating clearly the payment plan
• Money will be in your bank account within 24hrs of application approval.

LEASE FINANCE / HIRE PURHCASE

Their hire purchase finance is suitable for both individuals interested in purchasing assets for their homes such as TV, Generator, Cooker, Refrigerator, Freezer, Inverters etc. You can apply online 24hrs and the process is very simple, convenient and straight forward.

Features

• Purchase assets up to the value of N500,000
• Competitive interest rates
• Low Processing & Admin fee
• Asset will be insured by Cornerstone Insurance
• Maximum loan term of 6 months
• Repayment via direct debit or postdated cheques
• Very quick turnaround, they aim to turn around applications within 3 working days.

Requirements

1. Staff ID card
2. Postdated cheques
3. 1 recent passport photo
4. Must have a clean Credit record
5. Invoice of the asset to be purchased if not supplied by MKOBO
6. Proof of employment (Letter of Employment or Confirmation Letter
7. Proof of home address in the form a utility bill dated within last 3 months.
8. Most recent 6 months bank statements with official stamp of the bank.
9. Valid official ID (Passport, Driver’s License, National ID or Voters Card)
10. Suitable Guarantor to guarantee the facility

The asset purchased will be used as collateral for the facility. Asset will be purchased by MKOBO and delivered directly to you.