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Get a Convenient Loan to meet your needs

Use the loan calculator to commence


Loan calculator

Loan amount (N):

Interest rate: %

Months:


How it works

Registration fee is N500 only

1

Register as a member

Registration fee is N500 only

Meetings

2

Attend group meetings

Meetings

Save

3

Save at least 10% of the loan amount

Save

Get Loan

4

First small loan is N60,000

Get Loan

Pay back within Six (6) months.

5

Pay back starts two weeks after collection of loan

Pay back within Six (6) months.

2% Risk Premium

6

Loan form is ₦200

2% Risk Premium

Payback loan and attend meetings

7

You get ₦10,000 increase on next loan

Payback loan and attend meetings

Frequently Asked Questions

We've provided answers to some questions from our survey that will be of help to you. However, if your question(s) are not captured here, kindly contact us via the Contact Us page

1 : Am I Eligible?

  • Aged between 21 and 60 years
  • Have a verifiable business (no matter how small)
  • Live and /or do business in cities where we operate

2 : How much can I borrow?

You can get up to 1 Million Naira if you keep a good credit record.

3 : What documents do I need to apply for a loan?

You need your bank statement, a government issued ID card and utility bill

4 : Why is my BVN needed??

This is a CBN policy applicable to financial institutions as part of KYC requirements.

5 : How often can I take loan?

You can take loans as many times as possible as long as you settle previous loans.

6 : is attending meeting compulsory?

Yes, your attendance record is a huge determinant of your loan approval.

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Our Contact

15, Shatola Street, Off Anfani Road, Ring Road, Ibadan.
info@graceandmercyinitiative.org
08000028000
Opening Hours
Monday—Friday: 8:00AM–5:00PM
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© 2023. Grace and Mercy Household Improvement Initiative.

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