SME Loans

Whatever your business needs are, we have the right loan to help meet your need

Cash Flow Lending

Cash Flow Lending

Working capital to help meet your short term business needs.

Features

  • No collateral required
  • Affordable interest rate
  • Maximum tenor of 12 months
  • Maximum loan amount of N10M*
  • Open to registered** & unregistered businesses

Documentation Required

  • Copy of Corporate Affairs Commission (CAC) registration certificate
  • Invoice for goods to be purchased-if applicable
  • Executed Board resolution to borrow and detailing who will operate the account/ loan (for limited liability companies only)
  • Evidence of tenancy / ownership of business location (this includes copies of rent receipts, title documents etc.)

School Finance

Short-term bridge finance for private nursery, primary and secondary schools.For reoccurring operating expenses such as school uniforms, stationery etc. against the next term fee collection

Features

  • No collateral required
  • Affordable interest rate
  • Minimum Amount of N200,000
  • Maximum Amount of N5,000,000
  • Tenor: 90 days maximum (with full repayment within 5 weeks of school resumption)

Documentation Required

  • Newsletter
  • Copy of CAC Registration
  • State Ministry of Education Approval
  • Posted dated cheque from another bank covering 130% of loan amount
Union School Finance
Local Purchase Order

Local Purchase Order

We provide you with short term funding for jobs issued by approved counterparties.

Features

  • Affordable interest rate
  • Maximum Tenor is 90 days
  • Maximum amount of N50M
  • Equity Contribution of 30% is required

Documentation Required

  • Copy of Purchase Order which must be valid
  • Copy of Corporate Affairs Commission (CAC) registration certificate
  • Executed Board resolution to borrow and detailing who will operate the account/ loan (for limited liability companies only)
  • Domiciliation instruction (non – changeable without prior approval of credit signatories) in favour of UBN must be in place. Account detail on the letter should be for the collection account

Invoice discounting Finance

Quick cash flow for your business needs before your clients pays.

Features

  • No collateral required
  • Affordable interest rate
  • Maximum amount of N50M.
  • Maximum Tenor of 90 days (in line with invoice payment date).

Documentation Required

  • Copy of Invoice which must be valid
  • Copy of Corporate Affairs Commission (CAC) registration certificate
  • Executed Board resolution to borrow and detailing who will operate the account/ loan (for limited liability companies only)
  • Domiciliation instruction (non – changeable without prior approval of credit signatories) in favour of UBN must be in place. Account detail on the letter should be for the collection account
Invoice discounting Finance
Distributor Finance Scheme

Distributor Finance

We support your whole value chain of suppliers and buyers with short term loan for SMEs that are key and sub-distributors.

Features

  • No collateral required
  • Maximum tenor of 6 months
  • Maximum loan amount of N5M
  • Open to registered and unregistered businesses that are distributors to recognized companies

Documentation Required

  • Copy of invoice for goods to be purchased
  • Account statement for the past 2 years-Mom and pop only
  • Copy of Corporate Affairs Commission (CAC) registration certificate-Enterprise and Limited Liability Company only
  • Executed Board resolution to borrow and detailing who will operate the account/ loan (for limited liability companies only)
  • Evidence of tenancy / ownership of business location (this includes copies of rent receipts, title documents etc.)
  • Letter of introduction of the sub distributor by the key distributor-Sub distributor only
  • Letter of appointment as a key distributor by the Anchor-Key distributor only

Asset Finance

This product allows our customers  acquire assets such as operational vehicles, office equipment  and generators

Features

  • Maximum Tenor is 48 months
  • Equity Contribution of 30% is required
  • Loan amount is dependent on business cash flow
  • No collateral is required. Asset being financed is the collateral for the loan

Documentation Required

  • Cashflow statement
  • Customer’s request letter
  • Audited Financials(if applicable)
  • Proforma Invoice of asset to be financed
  • Copy of Corporate Affairs Commission (CAC) registration certificate
  • Other documents will be required subject to what we are financing
Asset Finance
Term Loan

Term Loan

SME customers can access Long term finance to finance the expansion of a business

Features

  • Collateral required
  • Maximum Tenor is 48 months
  • Loan amount is dependent on business cash flow

Documentation Required

  • Cashflow statement
  • Customer’s request letter
  • Audited Financials(if applicable)
  • Proforma Invoice of asset to be financed
  • Copy of Corporate Affairs Commission (CAC) registration certificate
  • Other documents will be required subject to what we are financing

Overdraft

Manage fluctuations in your cash flow and respond to emergencies. This product provides funding for SME customers to meet their cashflow needs and bridge shortfall of working capital

Features

  • Collateral required
  • Loan amount is dependent on business cash flow
  • Maximum Tenor is 12 months with 90 days clean up cycle

Documentation Required

  • Copy of Corporate Affairs Commission (CAC) registration certificate
  • Customer’s request letter
  • Account statements from other banks-if applicable
  • Valuation report of property to be pledged as collateral
  • Audited Financials (if applicable)
  • Other document will be required subject to what we are financing
Union Bank Overdraft
Intervention

Intervention Funds

Financing working capital needs, asset acquisition and business expansion

Documentation Required

Documents required for MSMEDF, BOI, DBN, NESF, CACs, ABP, & CIFI

  • Customer’s request letter
  • Company registration
  • Cashflow analysis
  • Audited financials-if applicable
  • Valuation report of property to be pledged as collateral
  • Legal Mortgage over suitable property to be pledged as collateral

Documents required for AGSMEIS

  • EDI certificate
  • Business plan
SME Lease Finance

Short Term Finance

Financing for SMEs for restocking of goods from specific suppliers.

Features

  • Collateral required
  • Equity Contribution of 30% is required
  • Maximum Tenor is 12 months with 90 days clean up cycle.

Documentation Required

  • Copy of Corporate Affairs Commission (CAC) registration certificate
  • Customer’s request letter
  • Account statements from other banks-if applicable
  • Valuation report of property to be pledged as collateral
  • Audited Financials (if applicable)
  • Other document will be required subject to what we are financing
COVID-19: We’re here to serve you. You can pay your bills, sort out transfers, check your balance, buy airtime and even request a loan on *826#, UnionMobile & UnionOnline. Click here for a list of our active sales and service locations. For assistance, chat with us on our website, or via WhatsApp 09070070001 or call us on 07007007000