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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

  3. How do I apply for this loan?
  4. On your mobile via internet banking platform OR visit your branch to apply through your Account Officer

  5. I have a Business account with FCMB, but I do not use either FCMBOnline (Business Version) or FCMB Business App
  6. NOT A PROBLEM. Just proceed to Branch to request for this loan through your Account Officer

  7. I do not have an account with FCMB, can I still apply?
  8. NO. this loan requires you open an FCMB business account and wait till 6 months to be qualified

  9. How do I know if I can apply?
  10. 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

  11. How much can I get?
  12. Minimum of N20,000 and maximum of N10million

  13. When can I pay back this loan?
  14. 180 Days (with 30 days; 60 days and 90 days options)

  15. What’s the interest rate?
  16. The interest rate is 2.5% monthly which is equivalent to 30% per annum