Assurance Working Capital Loan

The Assurance Working Capital Loan is designed to help you fuel your business’s growth with ease. Whether you’re looking to stock up on inventory, purchase new equipment, or manage daily operations, our loan product provides the financial support you need with flexible and favorable terms.

Empower Your Business

Whether you’re a trader looking to stock up on goods, a market vendor needing to increase your inventory, a daily sales person aiming to boost your working capital, or a low-risk merchant planning to expand, our Working Capital Loan is here to support your growth. We offer tailored financial solutions that cater to your business’s specific needs, ensuring that you have the funds you need to thrive.

At Assurance Microfinance Corporation, we understand the unique needs of small business owners, especially traders, market people, daily salespersons, and low-risk merchants. Our Working Capital Loan is designed to provide the financial boost you need to expand your business, increase your inventory, and manage your daily operations without stress.

You can borrow between ₦500,000.00 to ₦5,000,000.00, depending on your business needs.

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Assurance working Loan Products

Working capital loans are designed to help businesses manage their day-to-day operations by providing the necessary funds to cover short-term expenses. Here are the various types of working capital loans:

Short-Term Working Capital Loans

  • Purpose: Provide immediate cash flow to cover short-term operational needs.
  • Features: Usually repaid within a year, often with a fixed interest rate.

Trade Credit

  • Purpose: Extended by suppliers, allowing businesses to buy goods or services and pay for them later.
  • Features: Helps manage cash flow by delaying payment for a specified period, typically 30 to 90 days.

Merchant Cash Advances

  • Purpose: Provides upfront cash in exchange for a percentage of future credit card sales.
  • Features: Repayment is made daily through a fixed percentage of sales, making it ideal for businesses with high credit card transaction volumes.

Asset-Based Loans

  • Purpose: Secured loans that use a company’s assets, such as inventory or receivables, as collateral.
  • Features: The loan amount is typically a percentage of the value of the assets used as collateral.

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Features of Working Capital Loan

All loans are not created equal, business loan has become a great option for people to use.

Low-Interest Rate

Enjoy a flat interest rate as low as 5%, making it easier for you to repay without financial strain.

Flexible Loan Amounts

Borrow between ₦500,000 and ₦1,000,000 to meet your business needs, choose what you need.

Minimal Contribution Requirement

Contribute as low as 10% towards your purchase.

Decide your tenure

Flexible Payment Terms, choose a repayment period that suits you, from 30 to 180 days.

Business Loan - Eligibility

Any salaried, self-employed or professional Public and Privat companies, Government sector employees including Public Sector is eligible for a business loan.

Age

Maximum age of applicant at loan maturity: 18 years

Income

Minimum Daily Income: ₦15,000

Credit Rating

Applicant should have the bank specified credit score.

Frequently Ask Questions

If you have a question that deals with clients, customers or the public in general, there is bound to be a need for the FAQ page.

Repayment periods range from 30 to 180 days, you can choose to pay early if you can meet up.

  1. Visit Our Branch or Consult you Account officer: Stop by our head office or any branch near you to begin your application.
  2. Fill Out the Application Form: Provide the necessary details about your business and the loan amount you wish to borrow.
  3. Approval: Get approved quickly and receive your funds to start growing your business.

Contact Us

If you have any questions or need assistance, feel free to reach out to us via:

  • Phone: 070 2554 2269, 090 6254 7211, 081 0031 3103
  • Branches: Visit any of our branches across Abuja, Lagos, and beyond. Find your nearest branch here.

Get a Quote

Now apply for a Working Capital Loan online, All you need to do is provide your details below application form.