GTbank Small Business Loans – Gtbank small business loans provide a diverse opportunity of financial products to assist business owners in realizing their full potential. Build or Buy Loans for Schools, Overdraft, Hub Advance, Fashion Industry Credit, and Food Industry Credit are among the financing options.
There is a popular saying that to make money, you should spend money. If you are an entrepreneur and you want your company to grow, you must be able to spend on growth expenses such as equipment, inventory, increased working capital, advertising, and real estate. For a small firm, this has always been a problem.
GTbank Small Business Loans is providing a variety of simple and basic loan opportunities for business owners to sort out their needs, including money to cover your normal operational costs and keep your company afloat.
Types Of GTbank Small Business Loans
Here is the list of types of Gtbank small business loans and all you need to know:
Builds or Buy Loans For Schools
This School Loan is designed to help well-established and well-structured schools expand their landed assets to satisfy current or expected commercial needs.
The medium-to-long-term loan facility has a tenor of 3 to 10 years and can provide schools with up to $400 million.
Features Of Gtbank Build or Buy Loans For Schools
- Minimum of 20,000,000, Maximum of 400,000,000.Competitive Interest rate
- 1% Management fee.
- 1% Commitment fee.
- Tenor: Minimum of 3 years, Maximum of 10 years.
- Quarterly repayment of principal and a monthly repayment of Interest.
- Security: Legal mortgage on the property being financed or alternative property 8. (Buy) / Legal mortgage on an alternative property (Build).
- 30% Equity Contribution.
How To Apply
To apply for this Gtbank Small business loan, please walk into the nearest branch close to you.
GTbank Overdraft
This GTbank Small Business Loans is a credit line that lets consumers make checks for more than the account’s current balance, with a finance charge applied to the excess. Customers typically have access to money for one year, although this can be extended if performance is good. It’s an open credit that can be utilized over and over until the account balance reaches a predetermined maximum with a set repayment period, generally one year.
GTbank Hub Advance Loan
Gtbank Hub Advance is a type of inventory finance that can help your company grow. Customers can acquire a loan for up to $2 million with a maximum term of three months available in GTbank Small Business Loans
GTbank Hub Advance Loan Requirements
To qualify for this GTbank Small Business Loans category you must meet the following requirements:
- The Corporate Affairs Commission must be notified of the existence of a business.
- Maintain an active business account with the Bank, at least for a year
- Minimum monthly sales of N1 million and 10 transactions on the SME MarketHub in the last 12 months.
- The company should have been in operation for at least 6 months on the SME MarketHub and at least 3 years.
- Domiciliation of business account ( execution of domiciliation agreement)
- There is no past due to obligations with any banks, and there have been no more than two returned checks in the previous year.
Features Of Gtbank Hub Advance
Here are some of the features of the Gtbank Hub Advance under the GTbank Small Business Loans:
- Maximum Loan Amount – $500,000 to $2,000,000
- A maximum tenor of three months is allowed.
- Irrevocable The inflows must be domiciled.
- The loan will be repaid in equal monthly installments of principal and interest.
- There will be no equity contribution.
- Competitive interest rate
- There will be no collateral.
Visit the nearest Gtbank for more information about the GTbank Small Business Loans and how to pay.
