We have two types of short-term facilities/loan which are:

  1. School Aid Facility (SAF)
  2. School Support Facility (an hybrid of SAF due to impact of COVID-19)
  3. Temporary Advance

School Aid Facility (SAF)

School Aid Facility is a short-term loan facility availed to private school business owners. It is specifically designed to finance school administrative expenses such as purchase of books, school uniforms and consumable amongst other reoccurring school expenses within the term. Capital project finance is not accommodated using this facility/product.

Target Market

Private Schools – Primary and Secondary

Tenor

6 weeks

Amount

N500,000 to N5,000,000

Interest

Very Competitive

 HOW TO APPLY?

Please click here

School Support Facility (SSF)

In view of the impacts of COVID-19 as well as the conundrum brought to school business by the lockdown imposed by Federal Government of Nigeria (FGN), the School Support Facility was introduced as an upgrade to our School Aid Facility.

This is to help finance ailing private schools in Nigeria.

Target Market

All Privately owned schools in Nigeria

Tenor

12 months (with option of up to12 months moratorium)

Amount

N250,000 to N20,000,000

Interest

Very Competitive (1.18% monthly)

HOW TO APPLY?

Please click here

Temporary Advance Facility (TAF)

This is a short-term loan for all businesses (goods and services oriented except those in BDC, financial services and CBN prohibition list) requiring quick/urgent financial assistance to meet working capital need or to improve turnover cycle.

Target Market

Retail Trade; Wholesale Trade; Contracting; Professional Practice Firms; Agric Business; Supply;
Manufacturing; Health Care; NGOs, Associations, Clubs; Religious Bodies; Unallocated; Schools

Hospitality

Except List: BDC, Financial services and CBN prohibited list

Tenor

180 days

Amount

N500,000 to N10,000,000

Interest

Very Competitive (as low as 2.5% cost of fund per month)

*New to bank can apply

*Account performance with other bank can be used as a basis to qualify customers for this loan.

HOW TO APPLY?

Loan application is via FCMB Online (Business Version) or FCMB Business App. You can also visit the closest FCMB Branch to speak to your account officer or send e-mail to SMEhelpdesk@fcmb.com

Not an FCMB customer? Get started by opening an account.