How to get GT Bank SME business loan in 2023

GT Bank has created an SME loan for all business sectors which includes ( Build or Buy Loans for Schools, Overdrafts, Hub Advance, Fashion Industry Credit, Food Industry Credit) with little interest to increase their business productivity. so if you fall into any of these you can opt for the GT Bank SME loan with the required documents for proper documentation.

Types and Requirements for GT Bank SME Loan.

Build or Buy Loans for Schools

This loan is specifically designed for schools that are well structured and established and also have their own building and not for school that is just starting but well-established school that wants to expand. They are provided with long-term loans and up to 400mil worth of funds

Properties of Buy Loans for Schools

Minimum of 20,000,000, Maximum of 400,000,000.

Competitive Interest rate

1% Management fee.

1% Commitment fee.

Tenor: Minimum of 3 years, Maximum of 10 years.

Quarterly repayment of principal and monthly repayment of Interest.

Security: Legal mortgage on the property being financed or alternative property (Buy) / Legal mortgage on an alternative property (Build).

30% Equity Contribution.

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