Who can apply for FCMB Business Loan?
☑️ Must be a registered business or entrepreneur.
☑️ Operate within approved industries such as retail, manufacturing, healthcare, and agriculture.
☑️ Have a business with a fast turnover cycle.
☑️ New customers can qualify based on account performance in other banks.
Required documents
📄 A valid government-issued ID.
📄 Proof of income or business financial records.
📄 Completed Know Your Customer (KYC) form.
📄 Verified business registration documents.
Loan approval depends on meeting the necessary requirements, and additional documents may be requested by FCMB.
How to apply for FCMB Business Loan
Applying for an FCMB Business Loan is straightforward. Visit the nearest FCMB branch and speak with an account officer, or reach out via email to [email protected]. Existing customers can check their eligibility through their FCMB banking platform.
After submitting the required documents, the loan is reviewed, and upon approval, funds are disbursed quickly. If the application is denied, you can reapply later once financial conditions improve.
How to repay your loan
Repayments can be made via the FCMB banking platform, direct debit setup, or manual bank transfers. Ensure you have sufficient funds in your account to avoid penalties. Payments can also be made early to reduce interest costs and enhance eligibility for future loans.
Fees and costs
The FCMB Business Loan comes with transparent charges. Interest rates start at 2.5% per month, and loans are repayable within 180 days. Late payments may attract penalties, and processing fees may apply depending on the loan amount.
Always review the total repayment plan before proceeding to ensure financial stability.
Smart financial tips for borrowers
📌 Set Up Auto-Debit – Automate payments to avoid late fees and maintain a good credit history.
📌 Make Early Payments – Reducing the principal amount lowers total interest costs.
📌 Use Credit Strategically – Borrow only what your business can comfortably repay within the given period.
Need fast and reliable financing?
Click the button below to check eligibility and apply for the FCMB Business Loan today!