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SME Loans And Advances

SME Loans And Advances

We provide flexible/low-cost financing to SMEs

Home / Fidelity SME Banking / SME Loans And Advances

Tailored Loan Products

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The Fidelity SME Forum

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Making Financing Accessible to MSMEs in Nigeria

Our loan products for MSMEs have been tailored to help further ease the poor-access-to-finance burden confronting MSMEs in Nigeria in line with our avowed desire to be at all times, the go-to bank for funding and allied support for MSMEs powering the growth and development of the Nigerian economy.

These bespoke financing/loan products are detailed below:

LOANS & ADVANCES

SME Quick Loans

SME QUICK LOANS

Commercial Support Short Term Loan

This is a working capital loan for business owners to meet urgent cash needed for their business expansion.

This loan is open to Micro, Small and Medium-scale businesses (MSMEs) with stable cash flow and operating in Lagos, Abuja, Enugu, Imo, Abia, Edo, Kano, Bayelsa, Kwara, Rivers and Niger States.

Features
  • Customers can get up to ₦20 Million and repayable over 6 months to expand their business and meet their cash flow demands
  • Women-owned businesses get a special discount interest rate on this loan
Requirements
  • Applicant’s formal letter of request for the loan
  • Business should have at least 3-months banking relationship with Fidelity Bank or other banks
  • Applying businesses must be registered

SME QUICK LOANS

Commercial Support Overdraft

This overdraft enables business owners to finance their short-term cash flow and working capital needs to expand their business.

Features
  • Customers can get up to ₦10 Million payable over 3months to expand their business and meet their cash flow demands
  • Women-owned businesses get a special discount interest rate on this loan
Requirements
  • Applicant’s formal letter of request for the loan
  • Business should have at least 3-months banking relationship with Fidelity Bank or other banks
  • Applying businesses must be registered

SME QUICK LOANS

Traders Support Facility (TSF)

This is a short-term loan designed for small and medium-scale businesses operating the fast-moving consumer goods sector in well-organized clusters around the FESTAC area of Lagos State.

Features
  • The loan is a working capital finance
  • This loan is available as an overdraft or term loan
  • Eligible businesses can access term loans and overdrafts of up to N20m and N40m respectively, for up to 12 months
Requirements
  • Only identified small and medium-scale businesses around FESTAC area of Lagos State are eligible for this loan. These clusters include Balogun Business Association (BBA), Auto Spare Parts & Machinery Dealers Association (ASPAMDA), Alaba, Tyre Market, APT Jewelries Market, and Orile/Odunade Building and Plumbing Materials Market
  • Access to loans of up to N3m without any collateral

  • Loans above N3m will require shop documents or legal mortgage of property outside the market

For more information, visit the nearest Fidelity Bank branch or email us at [email protected]

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LOANS & ADVANCES

Specialized MSME Loans

SPECIALIZED MSME LOANS

Fidelity EduLoan

The Fidelity Eduloan is designed to provide working capital and asset or expansion finance to registered private school- (primary, secondary, and tertiary) owners who require funds for smooth running of their schools.

Features
  • Eligible private schools can access a short-term loan of up to N30m payable over a period of 3 academic terms
  • Eligible private schools can get a long-term loan of N150m payable over 9 academic terms
Requirements
  • The school must be registered with the relevant state Ministriyes of Education or the Federal Ministry of Education
  • The school must have been in operation for a minimum of 3 years

SPECIALIZED MSME LOANS

Fidelity Private Medical Support Scheme

The Fidelity Private Medical Support Scheme is a type of loan designed to meet the financing needs of eligible private hospitals. It offers up to N10m for the purpose of procuring drugs and equipment.

Features
  • For drugs, customers can get up to N3m that is payable over 6 months.
  • For equipment, customers can get up to N10m payable over 48 months.
Requirements
  • The hospital must be registered or incorporated
  • The hospital must have been in operation for a minimum of 5 years.

SPECIALIZED MSME LOANS

Fidelity Pharmacy Support Facility (FPSF)

The Fidelity Pharmacy Support Scheme is a type of loan designed to provide short and medium-term finance to pharmaceutical professionals to grow their businesses such as  procuring and replenishing stock for sale.

Am I Eligible? Prospect/Applicant
  • Must be a practicing pharmacist with the relevant license issued by the Pharmacists Registration Council of Nigeria
  • Must have been in business for at least two years
  • Must be an active member of one of the recognized Pharmaceutical Association
Features & Benefits
  • Get finance up to N10 Million
  • Loan tenor of up to 24 Months
  • Loan to be administered as Term Loan (Monthly repayment of Principal + Interest over the loan tenor)
Collateral
  • Letter of recommendation from a recognized professional association confirming membership of the applicant
  • Personal Guarantee of the Prime promoter alongside a statement of net worth.

For more information, visit the nearest Fidelity Bank branch or email us at [email protected]

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LOANS & ADVANCES

Development Finance Loan

Development Finance Loan

Development Finance and Intervention Funds

The Intervention Funds is a loan product designed to provide access to finance for businesses in all sectors. The Intervention Funds provide working capital finance as well as asset, and expansion finance to businesses.

Am I Eligible? Prospect/Applicant
  • Must be a registered business
  • Must have a current account with Fidelity Bank
  • Companies must be properly structured
Features & Benefits
  • Get finance up to N720 Million
  • Loan tenor of up to 6 Years
  • Competitive Interest rates
  • The product finances working capital, asset acquisition, and expansion
Documentation
  • Customer Request Letter
  • Recent 12 months statement of account(s)
  • Detailed business plan
  • Invoices (mandatory for asset finance)
  • Bill of Quantity (where applicable)
  • Projected Cash flow Analysis
  • Valuation report/Collateral visitation report of proposed collateral
  • Verified collateral documents (without encumbrance)

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