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No matter what your needs are, we have you covered. Apply and get quick approval for loans that require little documentation and no pledges of collateral.
No matter what your needs are, we have you covered. Apply and get quick approval for loans that require little documentation and no pledges of collateral.
This is a type of loan granted to business individuals that has show viable and sustainable means of repayment.
Features:
₦3M maximum loan amount
3.0% interest per month
10% minimum savings balance
Repayment frequency: Monthly
Duration: 6 months
Requirements:
1. Must be an active Member by registering with N1,000.
2. Savings culture: 10% of the facility requested.
3. Upload utility bill
4. Upload Valid National ID Card
5. Upload resent clear Passport
6. Submit two guarantors form
7. Submit 6 months Bank Statement
8. Submit 3 undated cheque or sign direct debit mandate.
This is based on group lending methodology where self help groups (SHGs) of between 10 persons or more form a borrowing group, but each person in the group has his/her own business to run. The group members co-guarantee each other’s loans.
₦300,000 (maximum)
Duration: 6 months
Grace period: 2 weeks
Repayment frequency: Weekly
Members must belong to a union.
Our Payday loans provide financial assistance to salary earners who need to borrow for any number of reasons, with no pledges of collateral.
Features:
Must be an active Member by registering with N1,000.
₦3M maximum loan amount
3.0% interest per month
10% minimum savings balance
Repayment frequency: Monthly
Duration: 6 months
Requirements:
1. Employment Letter
2. Months Statement of Account
Staff ID Card
4. Passport Photograph
3. Utility Bill
4. Undated Cheque or direct debit
5. Valid means of Identification (Driver's license, International passport, National ID card, etc.)
2 Guarantors.
The Young Entrepreneurs and Startup Catalyst Loan is a product designed for youths between the ages of 17 and 40 years and startups of 0-5 years of existence with bankable business ideas within OSF’s SME clusters.
The YESCL Programme Comprises the following:
Capacity building Process through the following:
1. Selection/screening of the candidates that will participate in the capacity building process through forms to be administered on OSF portal.
2. Four days intensive training on generating a business idea (value proposition), how to run a profitable business (Business Model) and basic financial record keeping. This shall be facilitated by OSF’s partner Entrepreneurship Development Centers.
The health Emergency Loan Program is a product targeting sick dependents. It is to provide hospital bill support to sick dependents who have viable means of repayment.
The aim is to reduce maternal mortality rate, support patients that needs emergency treatment but cannot afford the hospital bill at the moment and promote good health system in the nation. This product tends to support goal 3 of the UNDP SDGs.
Features:
1. Must be an active Member by registering with N1,000
2. Savings culture: 10% of the facility requested.
3. Upload Doctor's Report
4. Upload utility bill
5. Upload Valid National ID Card
6. Upload resent clear Passport
7. Two Guarantors
8. Submit 6 months Bank Statement
9. Submit 3 undated cheque or sign direct debit mandate.
Components of the AFP:
The AFP comprises the following:
1. Account Opening: customers have to open an account with N1,000 to become a member of OSF MFI.
REQUIREMENTS:
1. Must be an active Member by registering with N1,000.
2. Savings culture: 30% of the facility requested.
3. Upload Proforma Invoice
4. Upload utility bill
5. Upload Valid National ID Card
6. Upload resent clear Passport
7. Submit two guarantors form
8. Submit 6 months Bank Statement
9. Submit 3 undated cheque or sign direct debit mandate.
This loan product is aimed at providing cash to parent/guardian who have the willingness to educate their children in a well established Primary and Secondary school in Nigeria only, to support in the provision of school fees/levies, uniforms, books and school bus fees while protecting their business cash flow. This loan can be accessed by any of our members.
Loan range ‒ NGN 20, 000 to NGN 200, 000
Grace period ‒ 1 Month moratorium (Approximately 30 days after disbursement)
Interest rate ‒ 2.5% flat
Repayment Mode ‒ Monthly
Loan period ‒ Loan can be disbursed all year round
Loan purpose
— To cover Tuition fees, uniforms, Books & Transportation (School Bus).
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