How to Get Loan from Zenith Bank Without Collateral

Does Zenith give loan without collateral?

Collateral is a valuable stand-in that you submit at a bank when you need to obtain a loan. Now, does Zenith give loans without collateral? Yes, it does! and in this post you’re going to see how you can get a loan from Zenith bank without collateral.

There are tons of loan types that you could run your plan(s) on. They include the following;

SME loans:

SME means Small and Medium-sized Enterprises. Most of these enterprises remain active and running with the aid of loans. Yes, Zenith will give loans to such enterprises without collateral. The chances are usually higher for enterprises that that are ruled and run by females.

The purpose of the SME loans includes the provision of the kick-off capital, the funds for growth of the enterprise, and all other money-gulping needs of the company.

 

The rate of interest per annum for this kind of loan is about 9.

The payment regimen follows through a month, or a quarter of it

The requirements to qualify for this loan type include the following;

• A Bank Verification Covenant
• A reliable profile of the enterprise
• Good credit checks

Overdraft:

This particular loan type affords you being able to withdraw a sum of money that is more than whatever you have in your account at that point in time. Usually, the money must be returned within a year, which is fairly enough time.

Import Finance facility:

This loan type is available for those that desire to import substances from other countries. These substances could be the already finished goods, the starting materials, or some processing machine. This feature usually comes as Deferred Payment Letter of Credit. The Letter of credit is one that states a promise of the beneficiary being paid at a later date.

Export Finance facility:

This is one kind of loan that is available for those that transfer goods from their country to other countries. The loan is usually set into sail at the point before or after shipping of the goods.

Term loan:

This loan is a credit loan (either short term loan or middle term loan) that is usually given to fund projects that have to do with the growth of a particular business. You could pay back in form of bullets, balloons, or installments.