SME Loans And Advances
We provide flexible/low-cost financing to SMEs
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.
- 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
- 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.
- 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
- 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.
- 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
- 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]
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.
- 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
- 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.
- 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.
- 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.
- 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
- 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)
- 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]
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.
- Must be a registered business
- Must have a current account with Fidelity Bank
- Companies must be properly structured
- 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
- 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)
