Esusu Loan
Short-term daily loan tailored for traders with daily income
- Customer must be a trader or somebody that earns money daily or weekly.
- Loan amount must not exceed N100,000 with maximum daily contribution of N5,000.
- The applicant must have a shop where he/she carry on his /her business.
- The loan officer must ascertain that customer’s tenancy is validated and rentpaid up to date.
- The agreed amount must be contributed for at least ten (10) days before requesting for loan.
- The customer can take double of what he/she has contributed for a maximum tenor of 30 days.
- Repayment of all Esusu loan must be on daily basis, hence the loan officer must ensure close monitoring.
- Any Esusu customer who defaulted in three days payment will not be eligible for renewal even after paying the outstanding sum.
- Loan officer must ensure proper verification of customer and guarantor’s addresses before recommending the loan for approval.
