ETIM’S LOAN
- Etim’s loan is a loan support platform from the John Etim foundation which is to assist all and sundry to improve their working capital in Nigeria.
- This loan attracts no interest with a maximum repayment tenor of 5 months.
- 5% of your approved loan will be used as logistic fees for loan processing.
- This logistic fee will be removed from your Approved loan before disbursal.
- Your must-have activated an ajo plan (on a fully funded plan) to enjoy this facility except you are alumni of ACGS class 2004.
- The maximum amount to get is dependent on your last loan repayment and not more than 50% of your monthly income or salary.
- The loan is expected to be paid back on a weekly basis or monthly basis.
- You have the opportunity to get a higher amount after the first repayment.
- You need to apply for N30,000.00 for a start before you are qualified for a higher amount.
- Occasional defaults in your last Etim loan repayment might affect your new request.
- All repayments are done through Ajo mobile app while your SAFARI page on the mobile app will automatically load your loan transactions.
- A maintenance levy of N200 is expected to be paid monthly while on the loan
- Where default persists, your loan can be liquidated from other savings wallet you have with Ajo Thrift Savings
- Applying for this loan means you have agreed to the terms and conditions guiding this loan.
