SME Loans And Advances
SME Loans And Advances
We provide flexible/low-cost financing to SMEs
LOANS & ADVANCES
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:
- Cluster Based Quick Loans
- Other Quick Loans
- Loans for Specialized MSME Segments
- Development Finance Loan Products
- Commercial Support Short Term Loan
- Traders Support Facility
Commercial Support Short Term Loan
The CSSTL is a short term (90-day) working capital finance/loan product for MSMEs trading in fast moving consumer goods (FMCGs) in identified, well organised market clusters. Such trading MSMEs typically have stable cash flows, have short cash conversion cycles and for the most part, do not have tangible collateral to secure loan facilities to be availed them.Â
Eligible Customer Class:
- Only identified trading MSME members of identified trading clusters approved by the bank’s Management Credit Committee (MCC) are eligible for the CSSTL.
Loan Structure:
- Short term Loan
Single Obligor Limit:
- Single Obligor Limit for CSSTL is N5m
Tenor:
- 90 Days
Visit any Fidelity Bank branch near you to apply for CSST. For more info:
Telephone: 01-2701937
Email: [email protected]
- No Account Maintenance Fee for all Debit Turnover Amounts*
- No Monthly Charges
- No Limit on Number of Withdrawals, etc.
- Easy Access to Loans
- Free Business Advisory Services
- Assistance to Register your company/Business Name
Traders Support Facility (TSF)
The TSF is a short term (180-day) working capital finance/loan product for MSMEs trading in fast moving consumer goods (FMCGs) in identified, well organised market clusters in and around the FESTAC area of Lagos State.
These clusters include BBA, ASPAMDA, Alaba, Tyre Market, APT Jewelries Market and Orile/Odunade Building and Plumbing Materials Market. Such trading MSMEs typically have stable cash flows, have short cash conversion cycles and for the most part, do not have tangible collateral to secure loan facilities to be availed them.
Eligible Customer Class:
Only identified trading MSME members of the following clusters in and around the FESTAC area of Lagos State are eligible for the TSF. These clusters include BBA, ASPAMDA, Alaba, Tyre Market, APT Jewelries Market and Orile/Odunade Building and Plumbing Materials Market.
Loan Structure
- Term Loan
- Overraft
Single Obligor Limit
- Term Loan – N10m
- Overdraft – N20m
Tenor
- 80 Days
- This product is being expanded to cover other viable MSME trading clusters across the country that meet the eligibility criteria set out in the approved paper for this product.
Telephone: 01-2701937
Email: [email protected]
- No Account Maintenance Fee for all Debit Turnover Amounts*
- No Monthly Charges
- No Limit on Number of Withdrawals, etc.
- Easy Access to Loans
- Free Business Advisory Services
- Assistance to Register your company/Business Name
- Commercial Support Overdraft (CSO)
- The Fidelity Distributors’ Finance Scheme
Commercial Support Overdraft
The Commercial Support Overdraft (CSO) is a working capital finance facility usually availed as a 30-day overdraft to trading MSMEs to assist them meet their temporary financing needs by relying on their proven track record of account activity with our bank that is directly traceable to the trading business they are engaged in.Â
Eligible Customers:
- Only MSMEs trading in fast moving consumer goods who record daily inflows and have very short cash conversion cycles.
Loan Structure:
- Overdaft
Single Obligor Limit:
- Single Obligor Limit for CSO is N3m
Tenor:
- 30 Days
Telephone: 01-2701937
Email: [email protected]
- No Account Maintenance Fee for all Debit Turnover Amounts*
- No Monthly Charges
- No Limit on Number of Withdrawals, etc.
- Easy Access to Loans
- Free Business Advisory Services
- Assistance to Register your company/Business Name
Fidelity Distributors’ Finance Scheme
The Fidelity Distributors’ Finance Scheme is a loan programme designed for distributors of select fast moving consumer goods (FMCG) companies in Nigeria to enable them access financing easily for stock acquisition and replenishment.
Eligible Customers:
- Only distributors of FMCG companies (principals) pre-approved by the bank are eligible for funding under this product. An eligible distributor can enjoy this facility irrespective of the location where his business is situated in Nigeria.
Loan Structure:
- Overdaft
Single Obligor Limit:
- Depending on the categorisation of the principal of a particular distributor seeking funding here, the distributor can enjoy an overdraft line for stocking purposes with limits ranging from N10m to N100m monthly.
Tenor:
- 1 year with clean-up every 90 days
Visit any Fidelity Bank branch near you to apply. For more info:
Telephone: 01-2701937
Email: [email protected]
- No Account Maintenance Fee for all Debit Turnover Amounts*
- No Monthly Charges
- No Limit on Number of Withdrawals, etc.
- Easy Access to Loans
- Free Business Advisory Services
- Assistance to Register your company/Business Name
- Fidelity EduLoan
- Fidelity Private Medical Support Scheme
- Fidelity Pharmacy Support Facility
CORPORATE ACCOUNT
Fidelity EduLoan
The Fidelity EduLoan offering is a loan product designed to provide working capital and asset/expansion finance to standardized and structured private schools registered with relevant state Ministries of Education or the Federal Ministry of Education and, in current account relationship with Fidelity Bank. Such schools must have been in operation for a minimum of three (3) years.
Eligible Customer Class:
- Standardized and structured private schools (primary, secondary, tertiary) registered with relevant state Ministries of Education or the Federal Ministry of Education.
Loan Structure:
- Term Loan
Single Obligor Limit:
- Short term loan (working capital finance) - N30m
- Term loan (asset/expansion/lease finance) - N150m
Tenor:
- Short term loan - 6 months
- Term loan - 36months
Security:
Term Loan
- Irrevocable Domiciliation of School Fees
- Personal Guarantee of Proprietor/Prime Promoter
- Proprietor/Prime Promoter Statement of Networth
- Undated Other bank cheque IFO Fidelity covering 120% of loan amount
Working Capital
- Irrevocable Domiciliation
- Personal Guarantee of the proprietor/prime promoter
- Undated Other bank cheque IFO Fidelity covering 120% of loan amount
- Lien on leased Assets
- Legal Mortgage on landed property belonging to Prime Promoter/Proprietor
- Comprehensive insurance cover on all property for 110% of the value with Fidelity noted as the first loss payee
Documentation Requirement:
- Customer request Letter on letter head
- Valid ID Card for directors
- Statement of A/C
- Domiciliation letter
- Invoice for asset and lease finance; Bill of Quantity (BOQ) for expansion finance
- Any other document required in the cause of processing
For more information on Fidelity Eduloan offerings, call +234 1 271 3484
- No Account Maintenance Fee for all Debit Turnover Amounts*
- No Monthly Charges
- No Limit on Number of Withdrawals, etc.
- Easy Access to Loans
- Free Business Advisory Services
- Assistance to Register your company/Business Name
CORPORATE ACCOUNT
Fidelity Private Medical Support Scheme
Eligible Customer Class:
- Duly incorporated and registered, well-structured private hospitals owned by qualified medical practitioners duly licensed by the Medical and Dental Council of Nigeria (MDCN) and who are also members of the Nigerian Guild of Medical Directors or the Association of General and Private Medical Practitioners of Nigeria (AGPMPN)
Loan Structure:
- Term Loan
Single Obligor Limit:
- Drugs – N3m
- Equipment – N10m
Tenor:
- Drugs – 6 months
- Equipment – 48 months
Security:
Drugs
- Screening and recommendation from Guild Medical Directors (GMD) or Association of General & Private Medical Practitioners (AGPMPN) signed by State Chapter Chairman and Secretary
- Stock Hypothecation with duly executed Trust Receipt
- Undated cheques to cover at least 130% of facility amount
- 20% equity contribution
- Personal Guarantee of Managing Director with notarized statement of net-worth
- Chattel mortgage on existing asset of hospital with forced sale value at least equal to drug purchase loan amount for limited liability
- Deed of Transfer of Asset to Fidelity for Enterprises
- Letter of Authority from State Ministry of Health to run Hospitals in the State
Equipment
- Screening and recommendation from Guild of Medical Directors (GMD) or Association of General & Private Medical Practitioners(AGPMPN) signed by State Chapter Chairman and Secretary
- Comprehensive insurance on all equipment purchased brokered by (FSL) with Fidelity noted as first lost payee beneficiary
- 20% equity contribution
- Legal ownership of leased asset under a lease agreement
- Undated cheques covering the 48 months repayment period
- Personal Guarantee of Managing Director with notarized statement of net-worth
Documentation Requirement:
- Customer request Letter on letter head
- Screening and recommendation from Guild of Medical Directors (GMD) or Association of General & Private Medical Practitioners (AGPMPN)
- 1 passport photo
- Copy of valid ID card
- Valid Practicing License by Medical & Dental Council of Nigeria
- List of Asset on company letter head (without value stated)
- Evidence of filing current Annual Returns
- Statement of A/C
- List of vendors and their account numbers
- Proforma invoices for drug or items to be purchased
Visit any Fidelity Bank branch near you to apply. For more info:
Telephone: 01-2701937
Email: [email protected]
- No Account Maintenance Fee for all Debit Turnover Amounts*
- No Monthly Charges
- No Limit on Number of Withdrawals, etc.
- Easy Access to Loans
- Free Business Advisory Services
- Assistance to Register your company/Business Name
CORPORATE ACCOUNT
Fidelity Pharmacy Support Facility (FPSF)
The Fidelity Pharmacy Support Scheme (FPSS) is an MSME focused loan product designed to provide working capital finance support to eligible community pharmacy businesses for the purposes of procuring/stocking up drugs for sale.
Eligible Customer Class:
- Duly incorporated community pharmacies which have been in business for at least two years and are owned and run by qualified pharmacists duly licensed by the Pharmacists Registration Council of Nigeria and who must also be certified members of the Association of Community Pharmacists of Nigeria (ACPN)
Loan Structure:
- Term Loan
Collateral:
- Recommendation/Guarantee Letter from Association of Community Pharmacists Nigeria(ACPN) confirming member’s credibility, capacity and standing with Association
- Personal Guarantee of the Prime promoter alongside statement of networth
Single Obligor Limit:
- Retailers – N5m
- Wholesalers – N10m
Repayment Terms:
- Monthly repayment of principal & interest
Tenor:
- Retailers – 12 months
- Wholesalers – 24 months
Documentation Requirement:
- Customer request Letter on letter head
- Introduction/Recommendation letter from Association of Community Pharmacist Nigeria
- Copy of current Practicing License (if not issued yet for the year, evidence of payment/receipt and copy of filled form for the current year)
- Copy of current premises (if not issued yet for the year, evidence of payment/receipt and copy of filled form for the current year)
- List of Inventory in the shop showing unit prices, quantity and total value
- List of Asset on company letter head (without value stated)
- Evidence of filing current Annual Returns
- Statement of A/C
- List of vendors and their account numbers
- Proforma invoices for drug items to be purchased
For more info Telephone: 01-2701937
Email: [email protected]
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Development Bank of Nigeria (DBN)
On-lending Scheme for SMEs
and Small Corporates -
African Development Bank (AfDB)
On-lending Scheme for SMEs -
Bank of Industry (BOI) On-Lending
Fund for SMEs
Development Bank Of Nigeria (DBN) On-Lending Scheme For SMEs And Small Corporates
Fidelity Bank Plc, on the strength of the successes of its various interventions in the MSME development space, is a leading participating financial institution (PFI) in the DBN On-lending scheme for SMEs and small corporates.
This on-lending scheme is an alternative funding window that avails loans to eligible MSMEs playing in any sector of the Nigerian economy, at less-than commercial rates.
- Cheapness- below conventional market rate
- Ease – minimum documentation required
- Ease – minimum documentation required
- Ease – minimum documentation required
Eligible Customer Class:
- SMEs and small corporates playing in any sector of the Nigerian economy and whose businesses are structured.
Loan Structure:
- Term loan, for working capital and asset/expansion finance support.
Single Obligor Limit:
- From N5m to N720m
Tenor:
- Up to 60 months
Simply set up an appointment today and make an application with the relevant documents.
For more info Telephone: 01-2701937
Email: [email protected]
- No Account Maintenance Fee for all Debit Turnover Amounts*
- No Monthly Charges
- No Limit on Number of Withdrawals, etc.
- Easy Access to Loans
- Free Business Advisory Services
- Assistance to Register your company/Business Name
African Development Bank (AfDB) On-lending Scheme for SMEs
In recognition of the huge levels of support MSMEs continue to enjoy from Fidelity Bank Plc and in particular, in support of the structures/systems the bank has continued to institute to channel low cost intervention/development funding to MSMEs to tame the ‘high-cost-of-funds’ challenge facing them, the AfDB approved a $50 million line of credit for Fidelity Bank Plc in October 2018, to support small and medium enterprises and women-owned enterprises in particular, in Nigeria which are engaged largely in real sector activities, to drive economic growth and development.
Thirty percent (30%) of the line is dedicated to financing women-owned enterprises at a heavily discounted, less-than commercial interest rate.
Eligible Customer Class:
- SMEs and small corporates playing in key sectors such as manufacturing, healthcare and education and their value chains.
Loan Structure:
- Term loan, for working capital and asset/expansion finance support
Single Obligor Limit:
- From N5m up to N200m
Tenor:
- Up to 60 months
Simply set up an appointment today and make an application with the relevant documents.
For more info Telephone: 01-2701937
Email: [email protected]
- No Account Maintenance Fee for all Debit Turnover Amounts*
- No Monthly Charges
- No Limit on Number of Withdrawals, etc.
- Easy Access to Loans
- Free Business Advisory Services
- Assistance to Register your company/Business Name
Bank of Industry (BOI) On-Lending Fund for SMEs
Fidelity Bank Plc as a foremost provider of alternative, low cost funding for MSMEs, is a leading participating financial institution (PFI) in the BOI On-lending scheme for SMEs playing in various real sector areas of the Nigerian economy.
Thirty percent (30%) of the line is dedicated to financing women-owned enterprises at a heavily discounted, less-than commercial interest rate.
Eligible Customer Class:
- SMEs and small corporates playing in key sectors such as manufacturing, healthcare, education, agriculture value chain, services/trade and commerce.
Loan Structure:
- Term loan, for working capital and asset/expansion finance support
Single Obligor Limit:
- From N5m up to N100m
Tenor:
- Up to 48 months
Simply set up an appointment today and make an application with the relevant documents.
For more info Telephone: 01-2701937
Email: [email protected]
- No Account Maintenance Fee for all Debit Turnover Amounts*
- No Monthly Charges
- No Limit on Number of Withdrawals, etc.
- Easy Access to Loans
- Free Business Advisory Services
- Assistance to Register your company/Business Name
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