One of the ways you can finance your business with a GTBank loan is by applying for the micro, small and medium-sized enterprises (MSMEs) loan offered by GTB. In a country like Nigeria where the ease of doing business is posed with various challenges, getting loans that are reasonable may be the next alternative to keep that business running. The MSME loan offered by GTBank provides access to funds for business expansion, working capital, and asset acquisition.
MSMEs can borrow up to N50 million with interest rate as low as 9 percent. The loan tenure ranges from 3 to 36 months, allowing flexible repayment options. Applicants must have a business that is registered , a good credit history, and be able to provide collateral. Eligibility
Requirements for GTBank MSME Loan
As it is with every loan offered by the bank, whether it is salary advance, personal loans, school fees, or any other type of loan, there are certain things required before you can be deemed eligible. Let’s take a look at the requirements for those seeking MSME loans from GTBank.
Registered business with CAC
Good credit history
Business plan
Audited financial statements
Tax Identification Number
Valid government-issued ID
Benefits of Applying for GTBank MSME Loan in Nigeria
Applying for the MSME loan allows you to partake of a fast processing and disbursement fund opportunity provided by the bank.
The bank also offer a competitive rate
Flexible repayment tenure
Access to business advisory services
Opportunity to build credit history
Other Types of Loan Offered By GTBank
Having discussed the MSME loan offered by GTBank to help both micro and small businesses in the country, there are still some loans that are offered by the bank which others may partake of though not being classified as business owners. Also, for personal or other reasons, there are other options provided by the bank to its customers for loan terms.
GTBank school fees loan for educational purposes.
GTBank Agricultural loan for agricultural businesses.
GTBank Export Finance for export-oriented businesses.
GTBank Import Finance for import-oriented businesses.
Eligibility for Loan Options
Business registration with the CAC for those seeking business loans.Business plan.Financial statements representing the audited accounts.
Credit score is considered a good credit score.The loan may be subjected to a collateral or guarantor.
Required Documents for Loan Options
Business Registration Certificate.
Tax Identification Number.
Audited Financial Statements.
Business Plan.
Valid government-issued ID.
Application Channels for GTBank Loan
To benefit from the loans offered by GTB, you can use any of the application channels identified below:
GTB website.GTB Mobile App.
GTB Internet Banking.
GTB Branches.
GTB USSD Code: *737#
The application process is subject to review by the bank and may require you to wait while the bank reviews your application before disbursing the funds to you. It is also important that you review terms and conditions before applying for any of the loans.
