Loan product
Business Loan
Financing for registered small and medium businesses that need working capital, inventory, equipment or expansion funding. Repayment schedules can be aligned to your revenue cycle.
Key terms
- Loan amount
- ₦250,000 – ₦10,000,000
- Repayment period
- 3 – 36 months
- Interest rate
- from 15% per annum
- Processing fee
- 2% of principal
- Repayment options
- Weekly, bi-weekly or monthly
- Default interest
- 30% above agreed rate
Repayment example
₦500,000 over 6 months at 15% per annum, repaid monthly.
- Principal
- ₦500,000
- Interest
- ₦37,500
- Processing fee (2%)
- ₦10,000
- Total repayment
- ₦537,500
- Monthly repayment
- ₦89,583
Illustration only. Late payment attracts default interest of 30% above your agreed rate, as set out in your loan agreement.
Who can apply
- Registered businesses trading for at least 12 months
- Business owners aged 18 and above
- Businesses with verifiable revenue through a corporate or business account
Eligibility requirements
- Business registered with the Corporate Affairs Commission
- Minimum 12 months of trading history
- Verifiable monthly business revenue
- Business bank account statements
Required documents
- CAC certificate and business documents
- Valid ID of directors or proprietors
- 12 months business bank statement
- Proof of business address
- Evidence of collateral where applicable
Calculator
Estimate your business loan repayment
Loan details
Adjust the inputs to see your estimated repayment update instantly.
₦250,000 – ₦10,000,000
Rate set by Vicade Global for this product.
Estimated monthly repayment
₦89,583
6 payments · first payment 23 September 2026
- Principal
- ₦500,000
- Interest
- ₦37,500
- Processing fee (2%)
- ₦10,000
- Total repayment
- ₦537,500
Repayment schedule
| # | Due date | Amount | Balance |
|---|---|---|---|
| 1 | 23/09/2026 | ₦89,583 | ₦447,917 |
| 2 | 23/10/2026 | ₦89,583 | ₦358,333 |
| 3 | 23/11/2026 | ₦89,583 | ₦268,750 |
| 4 | 23/12/2026 | ₦89,583 | ₦179,167 |
| 5 | 23/01/2027 | ₦89,583 | ₦89,583 |
| 6 | 23/02/2027 | ₦89,583 | ₦0 |
Calculator results are estimates and do not constitute a loan offer. Final loan terms are subject to approval.
FAQs
Business Loan questions
Apply for a business loan
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