PennyWise LPO Financing Scheme
This is also a credit product specifically designed for contractors /Company Owners/Agencies who needed funds to execute contract awarded. Details of the contract and the Local Purchasing Order (LPO) would an added advantage
Features and benefits
- Designed for contractors/Company Owners
- Clients may request for overdrafts
- Loans can be given to Corporate bodies who execute contracts with a valid LPO
- 30% Equity contribution of the contract/LPO
PennyWise School Funding Scheme
PennyWise School Funding Scheme:This loan product is designed to aid School Owners in becoming Property and academic equipments acquisitions owners through provision of funds.
Features and benefits
- Facility amount: N1.00 up to 2Million)
- Methodology: Individual/Group
- Duration: 12 Months/3Terms
- Collateral
- Flexible repayment structure
- Expert financial advice available
PennyWise Market Welfare/Group Scheme
This is a loan product for the economically active persons in the society (Traders, Cleaners, Vulcanizers, Barbers, Stylists..Etc) In this product, Loan is given to the traders in groups of minimum of 5-Maximum of 15
The loan sum and the tenor are usually homogenous and may not exceed 6 months duration. Lien / compulsory savings of 15% of the amount needed is required.
PennyWise Salary Advance Package
This is also a credit product specifically designed for civil and public servants/corporate employee who earn their monthly salaries. They are allowed 30% of their net income in advance for as long as 6-12 months.
Features and benefits
- Designed for civil servants in the state/corporate organizations
- Clients may request for overdrafts
- Loans can be given to civil servants using salary as collaterals
- Loans may extend between 6months -1year
