How to Apply for First Bank First Trader Loan Money on www.firstbanknigeria.com

How to Apply for First Bank First Trader Loan Money on www.firstbanknigeria.com

Spread the love

How to Apply for First Bank First Trader Loan Money on www.firstbanknigeria.com First Bank of Nigeria just Launched a loan initiative Titled: First Trader Loan, this Loan initiative was setup by Fist bank of Nigeria to assist Nigeria Struggling traders to reach their peak, it was objected to make business easier and money Financially Friendly to Nigerian Traders all over the Country.

RELATED POST: 50B Naira Covid19 Loan Fund CBN resumes payment to Beneficiaries

FirstTrader Loan Features

RELATED POST: How To Apply For NMFB AGSMEIS Loan and get Paid 2021

  • Available to traders that deal in fast-moving goods
  • Tenor is either 90 days or 180 days.
  • Minimum loan amount is N5 Million.
  • No collateral is required for the 90 days variant
  • Collateral for the 180 days variant shall be equitable mortgage on shop title documents to cover 200% of the facility amount.
  • Requires opening of a charged Savings Account with opening amount of 5% of the facility amount. There will also be subsequent deposits as shown below:
    • 0.5% of the loan amount daily throughout the tenor of the 180 days facility.
    • 1% of the loan amount daily throughout the tenor of the 90 days facility.

Loan Benefits from firsttrader

RELATED POST: How to Apply for Lagos State Government Jobs for Unemployed Youths

  • Provides opportunity for increased business turnover/volume through injection of additional funds.
  • Steady build-up of funds which can be used to either pay back the loan or ploughed back into the business upon liquidation of facility
  • Easy repayment plan
  • No tangible collateral required.

How to Apply for First Bank of Nigeria First Trader Loan Money

RELATED POST: How to Apply For NMFB CBN Covid19 TCF Loan 2021 Apply Here

To Apply for a First Trader Solution loan,

If you are Facing any challenges applying for this Loan offer from First Bank please use the comment, tell us what your challenges are and we shall assist you further, please share this article you could be helping someone out there.

RELATED POST: NYIF Loan 2021 Payment 239 Beneficiaries Received 166 Million from FG

How to Apply for First Bank First Trader Loan Money on www.firstbanknigeria.com

Leave a Reply