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FREQUENTLY ASKED QUESTIONS

  1. What is FCMB SME Quick Loan?

    2. This is a short tenor credit to FCMB SME customers with fast turnover cycle.

    Target Market: All SMEs in the following space

    N.B: We do not offer our Quick Loan to BDCs (Bureau de Change); Financial Institutions ;Government and Public Sectors

  2. How do I apply for this loan?

    3. On your mobile via internet banking platform OR visit your branch to apply through your Account Officer

  3. I have a Business account with FCMB, but I do not use either FCMBOnline (Business Version) or FCMB Business App

    4. NOT A PROBLEM. Just proceed to Branch to request for this loan through your Account Officer

  4. I do not have an account with FCMB, can I still apply?

    5. NO. this loan requires you open an FCMB business account and wait till 6 months to be qualified

  5. How do I know if I can apply?

    6. You must make a good turnover and have ensured consistent monthly inflow through the account OR contact your Account Officer to confirm your eligibility status

  6. How much can I get?

    7. Minimum of N20,000 and maximum of N10million

  7. When can I pay back this loan?

    8. 180 Days (with 30 days; 60 days and 90 days options)

  8. What’s the interest rate?

    9. The interest rate is 2.5% monthly which is equivalent to 30% per annum